Word: growth
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...upshot: political campaigns that seemed utterly unconcerned with substantive issues - of which there are many. How will India maneuver its foreign policy amid the tempestuous politics of its neighbors? How will it secure the safety of its citizens from extremists and insurgents? How will it push economic growth and liberalization forward without triggering massive unemployment or environmental calamity? Prime Minister Manmohan Singh, who begins a second term, may well have answers to those questions but he did not reveal them during the campaign. Columnist Anand Giridharadas, writing for the New York Times, summed up the Indian vote...
...India must address problems so old as to be practically inconspicuous. Without universal education, India will not be able to find - even among its 1 billion people - enough skilled workers to sustain a thriving economy. Without improved roads, sewers and electricity, the companies who are betting on India's growth will eventually look for better returns elsewhere. In the absence of better opportunities, Indians will continue to seek the security of government jobs for their children, making it that much more difficult to reform India's bloated bureaucracy. Without public-sector reform, India won't be able to build...
...bursting of Japan's bubble 20 years ago, says he expects the beneficial effects of China's stimulus spending to continue for three to six months. While other Asian economies are expected to suffer sharp contractions in 2009, CLSA is predicting that China will hit its government-set GDP growth target of 8% this year, following a drop in the first quarter to 6.1%, the slowest annual growth rate since at least...
...recovery to last beyond the end of the year, China's crucial manufacturing and export sector must revive. Otherwise, Wood says, stimulus spending could result in a "skewed outcome": billions of dollars in loans made to artificially boost growth could start to go bad, dragging down China's banks; at the same time, the country would remain saddled with a glut of factories producing a vast surplus of goods no one wants...
China is using the stimulus package to play catch-up on another front: the environment. Three decades of rapid, unchecked economic growth has turned many of the country's rivers into cesspools and lands into wastelands and much of its air into grimy soup. Some $30.9 billion has been officially allocated under the stimulus plan for "environmental projects" to help clean up the mess and put the country on a path to more sustainable development. The government of Jiangsu province, for example, recently announced a $16 billion plan to clean up Lake Tai, once famed for its beauty and abundant...