Word: growth
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...China needs to balance export-led growth with a stronger domestic economy grounded by greater consumer spending. Two things need to happen: real incomes need to grow for all Chinese consumers (not just those working in urban areas). And consumers have to feel secure enough to spend more of what they make, rather than hoard...
...Deng Xiaoping, who ran China after Mao had become a tourist attraction lying in a glass box in Beijing, began moving the country to a capitalist economy. By the time he died in 1997, China had begun vigorous trade with the outside world leading to remarkable years of GDP growth. (See pictures of China's electronic waste village...
...China is not only America’s largest creditor, but it is also America’s only real global competitor. American demand for Chinese goods has fueled growth in Chinese manufacturing, and Chinese savings, in turn, have enabled America to live beyond her means. Yet this symbiotic economic relationship has, until recently, only made the headlines when it’s a matter of defective toys and toxic foodstuffs. Although at earlier points in our history we woefully mistreated African Americans and Native Americans, we lecture China about its treatment of Tibet and sell arms to what...
...stimulus package, renewing hope among many that American initiative on global warming might galvanize the world’s other largest polluters to act decisively to cut down on CO2 emissions. As the industrial power of the 21st century, China recognizes that segueing into more environmentally sustainable growth is not only crucial to its internal development but also has great potential of becoming a major export market...
...mission should not only be an intellectual one, but also a moral one, that teaches us to put people over profits and value all members of our campus, whether they are using the classrooms or cleaning them. The strength of Harvard comes not from the rate of its endowment growth, but in the community of people that comprise it. The road ahead will be difficult, but only by collective sacrifice we will retain our community and begin the recovery process together...