Word: globalization
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Dates: during 2000-2009
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...shadows of their former selves as they shed assets and withdraw from foreign markets. Meanwhile, lenders in China and India that are little known outside their home countries now have the wherewithal to expand internationally. They have the potential to become the Citicorps of tomorrow. (See pictures of the global financial crisis...
...have been bailed out by their governments, exit the world stage in order to refocus on their home markets. When these institutions regain their strength and start venturing out again, however, they may well find Chinese and other Asia-Pacific banks ensconced and thriving in many parts of the global marketplace - and ready to challenge them on their home turf...
...every student, faculty member, and alum is aware that the global financial calamity has influenced every component of University finances: endowments, private philanthropy, and gifts from cash-strapped foundations. While stimulus funds have temporarily swelled the budgets of federal science agencies, the long-term picture for government funding is hazy at best, and may fall victim to deficit-cutting two years from now. Within Harvard, the deans and central administrators have had the unenviable task of cutting budgets in order to match our expenses to our newly constrained resources. We have all spent many hours since October engaged in these...
...risk of slighting those whose interests go unmentioned because of the brevity of the space available here, I would like to highlight two university priorities: global health and energy and environment. What is it that makes these areas of scholarship and teaching priorities even in the current climate? First, they have real world significance. Global health (which also includes domestic health issues, if only because microbes do not need passports) and issues of energy and environment confront challenges that any great research university must address. The emergence of pandemics, the development of new drugs, vaccines, and devices for neglected diseases...
...Treasury Secretary could claim to his Chinese hosts that the necessary precondition for that return to fiscal sanity - a little bit of economic growth - might be on the horizon. Considering where things were the last time he met China's Premier - in October of last year, when the global economy was, as Geithner says now, "falling off a cliff" - that's not nothing...