Word: formality
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...difficult to ascertain how widespread shadow banking is throughout China. Beijing University economist Shen Minggao estimates that two-thirds of all financial activity in Zhejiang takes place outside the formal banking system. Local regulators do nothing to discourage informal lending because it funnels capital to vital, fast-growing businesses. But national economic conditions could now make it more difficult to look the other way. For one thing, China's inflation rate has crept above 5% while interest on savings deposits remains about 2%. In other words, Chinese lose money when they park cash in legitimate banks. It now appears that...
...months after the formal announcement of Nathan’s forced departure—which Nathans herself had been aware of since last winter—a job posting appeared on the Harvard University jobs listings, soliciting a “Strong Internal Candidate” for the full-time position...
Present! found its birth at the Manifesto Party last October in Adams House’s Kronauer Space, when the founding members gathered together to write and make proclamations of their personal and artistic ideas. “It was really exciting to hear my friends’ formal writing in an informal setting,” said Coll, one of the group’s major organizers...
...some members of the Harvard arts community find the idea of “public art” unappealing and even repugnant, lacking a loyalty to the ideal spirit of art. Professor Stephen Prina, a member of the Visual and Environmental Studies department, renounces the principles that underlie more formal public art displays...
Although the university has been central in the world of American art scholarship for centuries, its formal relationship to the field has been awkward at best. Some of the biggest names were trained in fair Cambridge and classes on the topic have been taught since the 1930s. Nevertheless, it is only in the past couple of decades that a formal push towards recognition and cultivation of American art history has really come to fruition...