Word: gdp
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Dates: during 1990-1999
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...Deng quietly laid Mao's legacy to rest following the Great Leader's death in 1976. Deng's "long march" was down the road to capitalism. And with 20 years of an astonishing average annual growth rate of close to 10 percent - over the last decade alone, China's GDP has increased by more than 300 percent - Deng's quiet revolution has transformed one of the world's poorest countries in 1949 into its seventh-largest economy 50 years later...
...that Greenspan is good. Just two days after the Fed chairman raised interest rates to tap the economy?s brakes just a little, it?s already slowing down. The Commerce Department reported Thursday that GDP growth from the April-to-June quarter was actually 1.8 percent, instead of the 2.3 percent the government had estimated a month ago. In reality, of course, that has nothing to do with Tuesday?s action ?- even with a strong market reaction, an interest rate hike takes at least six months to reverberate through the economy ?- but it?s sure got plenty to do with...
...This takes even more pressure off the Fed to raise rates again anytime soon; the economy seems to be slowing down just as it hoped." Thursday?s report isn?t a guarantee, though. Most of the slowdown was due to the trade deficit; imports aren?t counted in the GDP, although they do show up in the overall economy when cash-loaded consumers head to the mall. So inflation could still be lurking in the heart of the U.S. economy ?- but it?s not putting much fear in Alan Greenspan...
Despite the 7.9% annual GDP growth rate during the first quarter, Japan's economy remains a bloated, uncertain thing. Insiders say the spring growth blip was a one-time phenomenon--possibly even a result of inaccurate accounting--fueled by high government spending. The primary problem is that Japan's financial structure--everything from the way companies are managed to the amount of government debt--remains badly out of sync. Many Japanese companies are still chugging along as if it were 1981, complete with overweight overheads, inefficient manufacturing systems and "jobs for life." Japan's banks, long loaded with bad debt...
...1040s gave rise to it and who now deserve their money back--to do with as they see fit. As a Wall Street Journal editorial-page headline framed the issue last week, WHOSE SURPLUS IS IT, ANYWAY? Indeed, Americans now pay an amount in taxes equal to 20.7% of gdp, a post-World War II high that is up from just over 18% 10 years ago. Nor are many economists bummed by the fact that most of the benefits that would flow from the G.O.P. cuts would accrue to upper-bracket taxpayers, since they have been the hardest...