Word: gdp
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...stoking the fires of global inflation. After all, it was China's cheap laborers who turned the country into the world's factory. By one estimate, China's manufacturing unit labor cost was just 4% of that of the U.S. in 2005. Now, as the mainland economy powers ahead - GDP growth jumped by 11.9% in the second quarter - real wages of urban workers have been soaring at double-digit rates, rising 18% in the first half of this year alone, according to the government. Add in higher raw-materials prices, and manufacturers are facing increases in production costs they...
...faculty member who has also worked for the World Bank, said Western economists often overlook the establishment of 10 million privately owned rural township and village enterprises in China during the 1980s—which played a significant role in the country’s rapid growth in both GDP and personal income. But those trends were reversed in the 1990s as the government financed urban development at the expense of rural enterprises, Huang said. The changes occurred in cities like Shanghai, which he called the “apex of economic inefficiency, waste, and government intervention...
...thought that it was something like 3% over the next two decades and that the annual GDP change was lower...
Basically, what they came out and said was not that different from the numbers in my book: that for 3% of GDP you can cut emissions dramatically. Yeah. Hell, yeah...
...Luxembourg’s military expenditures are about 0.9 percent of its GDP...