Word: governmentalize
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Krugman similarly described the Obama administration’s stimulus as “halfhearted,” explaining that the mere existence of a large government and the move to rescue the financial sector each had more of a stabilizing effect on the economy than the stimulus itself.
While he criticized the government during much of his speech, he also faulted economists for forgetting or misinterpreting the past.
It hasn't been a banner few weeks for U.S.-China relations. In mid-January, Google announced that it was contemplating pulling out of China because of repeated attacks on its network as well as censorship constraints. In the past week, the U.S. government authorized $6 billion in arms sales...
This increasing truculence is a direct reflection of a rapidly shifting economic balance of power. One of the consequences of the financial crisis of 2008-09 was the catapulting of China to the forefront of the global economic system. That trend wasn't created by the crisis, but the crisis...
In short, China is brimming with confidence, and in recent weeks that self-confidence has turned into arrogance, with scorn for the U.S. There is a long legacy of Chinese distrust of the West. Today, Chinese nationalists cannot explicitly criticize Beijing, but they can indirectly attack the government by challenging...