Word: gdp
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...global financial crisis hit trade-dependent Taiwan especially hard. Exports in April plunged a staggering 34% from the same month in 2008 - the sixth consecutive monthly double-digit decline - as demand for the island's computer and electronic equipment shriveled in the U.S. and Europe. The government expects GDP to contract 3% in 2009; some private estimates predict worse. The severity of the crisis brought new urgency to the effort to improve ties with China in order to capitalize on one of the world's few remaining sources of growth. "If we had not opened up to the mainland...
...plans to auction off hundreds of billions of dollars in Treasuries between now and the end of the year. The level of interest that will be paid on this paper will be a litmus test of the market's appetite for debt in the country that has the largest GDP in the world but is well on its way to owing a record sum to its creditors...
...problem brings the trouble of rising deficits and falling GDP and tax collections closer to the U.S.. The largest purchaser of American Treasuries, China, has already voiced concern about the profligacy of spending that is part of the plan to pull the U.S. out of a deep recession. If China cuts back its purchases of Treasuries, even a bit, interest rates on paper issued in the future could move up substantially...
...agencies investing the money have only a vague set of forecasts for returns and, under pain of death, could not supply a detailed accounting of predictions for how government investments will pay out. The process of stimulating the economy may, indeed, have no specific goals other than to move GDP back to the positive growth rate in the budget and stimulus bills and the recovery in employment that is laid out by the Office of Management and Budget. That would mean that the approach to salvaging the economy is freewheeling and subject to only the nonspecific measurements of success...
...Beijing, suggests that the current system be scrapped. The academic believes that peddlers should be given more flexibility to sell their goods and that the chengguan should concentrate on more pressing urban issues. "Street vendors are an important part of the market economy and directly contribute to the GDP," says He. "There are also other merits - cheap street markets cater to low-income families, add color to city life, utilize public space and create jobs...