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...savings and unable to sustain their spending by borrowing against their homes in a weakening housing market. This spells trouble for a global economy still overly dependent on the U.S. consumer. That's not to say the world lacks resilience against geopolitical shocks. Morgan Stanley estimates global gdp will grow 4.7% this year. That's 40% faster than the 3.4% average gains in the pre-oil-shock years of 1979 and 1990. Strong growth provides an important cushion to ward off unexpected blows. At the same time, the so-called stewards of globalization - namely...
...maybe what's for lunch. When he took over the Fed from Alan Greenspan on Feb. 1, Bernanke became the man portrayed as having his hand on the controls of the U.S. economy. If prices rise rapidly or the economy slows, Bernanke gets blamed. If the economy continues to grow at a healthy clip, he's celebrated...
...rates 0.25% for a then 16th straight time. "You're much better off knowing what the controversies are than operating in ignorance," Bernanke said in a 2004 interview with the Minneapolis Fed. With his push for more candor and exchange, the expression of those controversies is sure only to grow, especially as the Fed attempts to steer the economy toward a soft landing...
Singapore's leadership in stem-cell research is not new. In 1994, Ariff Bongso, a Sri Lanka--born embryologist at the National University of Singapore, became the first person to isolate human embryonic stem cells, and in 2002 he discovered a way to grow stem-cell lines without the use of animal cells, which could make it easier to find clinical uses in human beings. Bongso achieved those breakthroughs nearly alone, but that would not be the case anymore, thanks to Biopolis, the government's $300 million bet on bioscience...
...city's suburbs. India's great strides in education, technology and medicine can prove to the world that the country is a force to be reckoned with. Gita Varughese Mississauga, Canada Your report on the Indian economy presented a rosy picture. But not only is there a growing disparity between rich and poor, there is also an increase in deforestation and pollution of rivers, groundwater and air, which could lead to environmental collapse. Ravi Sharma Calgary, Canada I thoroughly enjoyed your cover story on the rapid changes in India. As an Indian living in England, I often wonder what...