Word: foreignism
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Priority Lane It won't be an easy race for China to win. The Chinese auto industry is fractured and weak. The domestic market is dominated by foreign manufacturers such as GM (which is doing much better in Beijing than it is in Detroit) and Volkswagen. But the government in Beijing has made it very clear that it considers electric and plug-in vehicles a priority for Chinese companies, and it's willing to spend. The Chinese State Council announced in January that it would spend $1.6 billion over the next three years to develop alternative fuels, and there...
...first steps. BYD was already a major global battery producer, chiefly for mobile phones, when in 2003 it entered the car business by buying a defunct state-owned auto company. BYD proved a surprisingly quick study at automaking - its F3 sedan is a best seller in China, beating popular foreign brands - and now it has moved into electrics. The company is already selling the F3DM, a $22,000 Volt-style plug-in car with a backup gasoline-powered generator that recharges the battery, and it will begin selling an all-electric car in China in the next few months...
...losing the race for the next great technology to the Chinese, they should be. On Aug. 5, U.S. President Barack Obama announced a long-awaited $2.4 billion in government grants to support the manufacture of electric cars and batteries. "I don't want to just reduce our dependence on foreign oil and then end up dependent on foreign innovations," Obama told an audience in the economically depressed state of Indiana. "I want the cars of the future and the technologies that power them to be developed and deployed right here, in America." U.S. automakers will need to move fast - China...
Where Rushdie, by now a friend, used baroque language to spin fantastical tales spanning continents and centuries, Kureishi stayed street. His father figures were faded and refined - dusty relics from a more gracious time who looked to literature or socialism to block out the cold realities of being foreign-born in 1970s Britain. Their sons weren't Pakistanis but "Pakis," who snorted coke, fornicated and embraced the Thatcherite dream of making money fast. "When I was in school, the long-standing stereotype of the South Asian male was of the studious nerd, who was going straight to an enviable university...
...designed a lucrative $100 million trade - then the largest of its kind Goldman had ever handled - for a Muslim client to comply with the religion's rules against receiving interest payments. In 1984, Goldman partner and J. Aron chief Mark Winkelman put Blankfein in charge of a group of foreign-exchange salesmen and later in charge of all foreign-exchange business. Rubin, then on the firm's management committee and responsible for both risk arbitrage and J. Aron, had advised Winkelman against it. According to Charles Ellis' 2008 book about Goldman, The Partnership, Rubin told him, "We've never seen...