Word: globalization
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Dates: during 2000-2009
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...could impact overall China-U.S. relations. Obama and Chinese President Hu Jintao are expected to attend next week's G-20 summit in Pittsburgh, Pa., where the world's most influential economies will tackle sticky issues like the continuation of economic-stimulus measures and improved regulation of the global financial system. "We all need to be a lot more alarmed" by the trade spat, says Michael Pettis, professor of finance at Peking University. "Rising anger makes it more difficult to cooperate." At a crucial moment for the economy, that's something the world can ill afford...
...from the ashes of World War II and shaped by its frontline role in the Cold War, into something that's "relevant in today's world." NATO will continue to be the guarantor of territorial defense for member states, he says, but it must also become "a provider of global peace and stability" by targeting threats - terrorism, piracy - in distant lands. It needs to be more flexible and agile, and should work more closely and more smartly with civilian institutions like the U.N., the European Union and the World Bank. (rEAD: "As NATO Gathers, Its Future Is Looking Cloudy...
...Diversify Japan Inc. Japan must finally abandon the script it followed to become an industrial superpower. The global economic crisis has exposed the country's overdependence on its manufacturing-for-export model. GDP in the first quarter plunged a staggering 15.2% as demand evaporated for cars from Toyota, Honda and Nissan and for high-end electronics from Sony and Panasonic. Japan can no longer expect economic growth to be generated almost exclusively by a handful of powerful multinational manufacturers. Increased domestic consumption as well as investment in small- and medium-sized enterprises are needed to help drive economic growth. This...
...health-care and unemployment systems. Japan's current social-security programs hark back to an era of guaranteed jobs for life, which places unsustainable financial burdens on companies and individuals. Until modern safety nets are built, it will be impossible to make Japan more efficient and competitive in the global economy...
...Call Him Mr. Green Thanks for your encouraging article on Energy Secretary Steven Chu [Aug. 24]. Knowing that a man of his learning and talent is leading the Department of Energy gives me hope for the future. When major scientists like Chu tell us we are facing a global crisis - one that could be deadly to all life on earth - because of the damage we are doing to the environment, it is time to listen and act. Doug Bridges, Columbus...