Word: grow
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...Since 1989, economists and world leaders have taken for granted that the only way to grow rich is to open your country - open your economy at home, open your companies to trade with the world, and open up your politics. But the new state capitalists challenge that wisdom. They encourage private enterprise and foreign investment. At the same time, they retain control of certain key industries, like oil or automaking, use state support to grow these industries, and then unleash state-backed firms into the global marketplace. Mostly authoritarian regimes, the state capitalists also keep a lid on politics...
...well as that of any that relies on exports. But the free-market autocrats stand in far better shape than the rest of the world. With their massive cash reserves, current-account surpluses and, often, capital controls, countries like China can better weather a downturn (China probably will still grow by 9% this year). And with no pesky U.S.-style congress to stand in their way, they don't have to worry about anyone vetoing their plans to stabilize their economies...
...narrator's grandfather hangs himself--creates a strangely shallow impression. But what the story lacks in polish, it makes up for in mood. Reading a Petterson novel is like falling into a northern landscape painting--all shafts of light and clear, palpable chill. The narrator and her brother Jesper grow up in this setting, on a farm in Denmark in the 1930s. Distant from their parents, they find happiness in each other, and as the narrator grows from tagalong sister to adolescent, Petterson gives their relationship a delicate physical dimension...
...Dabbagh is certain these hurdles won't stand in the way of investors in the new cities. They will, he says, be "new pockets of competitiveness," like economic greenhouses for businesses. In the desert, that's the only way to make things grow...
...demands for more money suggest that, as Bair told TIME, "more banks will fail." The FDIC's list of troubled banks jumped from 90 to 117 in the second quarter and will surely grow again. Bair is worried about all the new responsibilities her agency is taking on. The new rescue plan requires the FDIC to guarantee not just the new lending by banks but also unlimited deposits in special accounts used primarily by small businesses for things like payroll. Little wonder Bair is cautious: the new program is expected to cover $1.9 trillion, a stunning 42% increase in total...