Word: fuel
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...area of the economy that scares the authorities in China the most it would have to be inflation, which hits citizens where it hurts most - in the wallet. The country's consumer price index hit an 11-year high of 6.5% in October due largely to rising food and fuel costs. The storms will almost certainly cause another spike. Frigid temperatures across 14 provinces in China are destroying vegetable crops and will "push up food prices further in January and February," says Jun Ma, chief China economist at Deutsche Bank in Hong Kong. The consequences could be serious, says Simpfendorfer...
...Public safety isn't the only challenge the interim government has failed to negotiate. Fiscal mismanagement has led to chronic fuel shortages across the country; lines in Kathmandu extend for kilometers and prices have tripled in less than half a year. Last week, protests against rising fuel prices shut down the capital. Kathmandu residents face at least six hours of power cuts a day. The government has been unable to raise Nepal's middling growth rate, which hovers around 2%, and funds many of its programs on an IV drip of foreign aid. Trade-union activism and general strikes, some...
...evening news of stand-up comedians walking the picket line in L.A., and the news of their victory in the strike, raised the profile of a profession that was growing fast in popularity, not just on the two coasts, but in the heartland as well. The strike helped fuel the nationwide comedy club boom of the 1980s...
...will be an uphill push. The economy is headed for recession, fuel prices are high and the mortgage crisis is affecting a broad swath of the country. The improvement in Iraq may win some supporters back, but the war remains unpopular. And to the extent they take time to think about it, most people have made up their minds about George W. Bush's presidency at this point. Even wrapped in the cloak of "liberty," the most Bush can hope for this year is a modest bounce. As for the history books, nothing he puts on the table Monday evening...
...Obama's triumph Saturday evening, and it only underscored how his outsized, vocal presence on the trail has threatened to overshadow his wife. Earlier in the day, Clinton had churlishly compared Obama's victory to that of Jesse Jackson in 1984 and 1988, a remark that will likely further fuel disaffection about the Clintons amongst African-American voters. There was evidence that Obama's victory was also a repudiation of the brand of hard-knuckled politics that both Clintons had brought to the South Carolina contest. Exit polls indicated that Bill Clinton's campaigning made a difference to about...