Word: globalization
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...employees are Chinese. I'm an investor here, a producer here and pay taxes here. So why is there this difference?" Adding insult to injury, Chinese firms are proving to be tough competitors in markets outside China's borders. In Germany, where government subsidies helped stimulate global solar-panel production, an industry association is investigating claims that Chinese panelmakers are dumping their products. Non-Chinese solar firms complain they are undercut in European and American markets by Chinese companies selling similar products for 30% less than rivals. The dispute has the potential to increase trade frictions between China...
...reason why the Chinese government would let them die," he says. "A parent may like one child more than the other, but at the end of the day I think they will continue to do well and continue to do business in China." With the rest of the global economy still stagnating, life as China's stepchild may be the best some international firms can hope...
...Chingford, England, Reg Burrows usually pays with plastic. But Burrows, the owner of an industrial-storage-supply firm, doesn't pull out Visa or American Express. He pulls out Bartercard. As a member of the Bartercard trading network, Burrows receives "trade pounds" instead of cash whenever his firm, Global Equipment Trading, works for fellow Bartercard clients. He can then spend that credit at any of the 75,000 member businesses around the world, including Patpong Thai, where he frequently entertains clients. So far this year, Burrows has exchanged around $410,000 in goods and services, helping to offset expenses...
...brief war in 1962, when China captured territory in - for India - a mortifyingly rapid incursion. They skirmished again in 1967, but since 1993 the two countries have coexisted more or less peacefully along an undemarcated border. What's at stake now isn't territory so much as influence and global status. China is an economic powerhouse, but ever since last year's signing of a civilian nuclear agreement between the U.S. and India, Beijing has become increasingly uneasy with India's growing clout. "It's a competition between two systems: chaotic, undergoverned India and orderly, overgoverned China," says Mohan Guruswamy...
...right here? Well, first, the Republican argument that the stimulus is a bust because jobs have been lost fails a basic logic test. After last fall's global financial shock, the job market was going to be thrown for a loss no matter what. The issue is whether the number of job losses is greater or lesser than it would have been in the absence of the stimulus. "You can't answer these questions without a compared-to-what," says Jared Bernstein, economic adviser to Vice President Joe Biden, who is overseeing the stimulus. "We can have good arguments about...