Word: gdp
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Dates: during 1990-1999
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...part of the problem. Most economists concur that trade with low-wage nations depresses low-skill American wages, but most don't think the effect is very large. Stanford economist Paul Krugman points out that in 1990 nonoil imports from low-wage nations amounted to 2.8% of America's GDP--a low number and, more to the point, barely higher than the 2.2% figure for 1960, back before low-skill American wages started dropping...
Reports of the U.S. economy's imminent declinenow appear to be greatly exaggerated. After three straight monthly drops in GDP, new reports out of Washington show increases in retail sales and industrial production, with no rise in inflation. The downturn in indicators, saysTIME's Bill McWhirter, were only an aberration rather than a trend. "April was a just a blip. What happened was a confluence of bad news, topped by a $20 billion retroactive tax bill. About 90 percent of the disposable income in the country is in the hands of people making over $60,000 a year. These people...
...suggests falsely that out wealth and stature shield us from the concerns of the world around us. The Economist launches into an inexplicable picture-book hard-sell of Harvard: its $6.2 billion endowment with plans to raise $2.1 billion more; its annual budget, about the size the Nicaragua's GDP; its irresistible money-powered magnetism for stealing scholars like Henry Louis Gates form Duke and Cornel West from Princeton; its well-funded research in the hard sciences and renovations of the Yard; its perpetually high national rankings. In excited summary, The Economist raves; "the results are splendid...
...southern revolutionaries who helped win the war felt cheated in the years following 1975, when Hanoi's hard-line communists almost fatally "reorganized" much of old Saigon's industrial and commercial base. Now the city is in the heat of a spectacular comeback. A third of both Vietnam's gdp and its central-government revenues come from Ho Chi Minh City's textile factories, shrimp-processing plants and other businesses. The city is a commercial and banking center, as well as the capital of Vietnam's burgeoning oil and gas industry, which generates most of the nation's export income...
...banking collapses have become periodic rituals, the economy has fallen into ruin and public cynicism is pervasive. Over the past 15 months, 16 private banks have failed and been nationalized. The government has picked up the tab for $7 billion in losses, equivalent to 16% of last year's GDP. Charges of financial irresponsibility, corruption and outright theft are flying. Arrest warrants have been issued for more than 100 people in connection with the collapses, and dozens of financiers are believed to have fled the country. President Rafael Caldera has charged that the banking system has been systematically looted...