Word: gdp
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Dates: during 2000-2009
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...SHINING, aimed at capitalizing on the country's astounding record of rapid growth. But India's struggling farmers didn't see much shining in their own lives, and voted the BJP out. The unacknowledged reality was that the farms hadn't yet joined in India's economic boom. While GDP grew on average 5.7% a year between the launch of India's market reforms in 1991 and 2004, agriculture slumped along at just 2.9%. Indian farming had also become miserably inefficient. Each hectare of cultivated land in India produces half that grown in Thailand. "The government thought that after liberalization...
...last office door swung shut at Lehman Brothers in New York, Beijing was planning how to get there, eventually unleashing a massive $586 billion stimulus package in the spring and freeing up lending to allow billions more to slosh into the economy. With this week's announcement that GDP had expanded by 8.9% in the third quarter, China is well on its way to reaching its target for the year. That will make China the first major economy to emerge from the slowdown. But it is far too soon for the country's economic mandarins to hang a "Mission Accomplished...
...Despite China's strong rebound this year, Chinese officials remain cautious. On Sept. 11 Premier Wen Jiabao said "the stabilization and recovery of the Chinese economy is not yet steady, solid and balanced." China's stimulus package - the equivalent of 14% of GDP - focused on large infrastructure projects, work often done by large state-owned construction firms. Similarly, the lending spree was primarily directed at state-owned enterprises that offer banks an implicit guarantee that the government will cover outstanding debts. The downturn in exports mainly hurt small- and medium-sized firms in the south, which are usually private owned...
...There's no doubt that a recovery is at hand," says economist Krishen Rangasamy of Toronto-based CIBC World Markets. "But the strong Canadian dollar will act as a break on the Canadian economy." He expects Canada's GDP to grow at an annualized rate of 3.3% in the fourth quarter, and 2% in 2010. This compares with CIBC's lower estimate of GDP growth for the U.S., with 2.4% expected for the fourth quarter...
...Ireland has changed dramatically during your time in politics. If you go back to the mid-'80s, unemployment was 20%. The debt-GDP ratio was higher than Ethiopia's. Emigration was massive. The new Irish [immigrants] were 1% of the workforce. Before this recession we got to full employment, 7% growth every year. Most of the young Irish that wanted to came back. The working population of the new Irish is now 15%. We've been able to put huge money into infrastructure, to attract foreign direct investment to set up new industries. We brought in legislation decriminalizing...