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...know to understand why Bank of America in May sold a 5.8% stake in China Construction Bank for $7.3 billion. Bank of America has been so badly hurt by the U.S. financial crisis that it needs to raise billions of dollars to recapitalize. Meanwhile, Chinese banks are making money hand over fist as China's economy continues to expand. (Read "Bank of America Needs to Play Its Merrill Card...
...that the alliances are too tenuous to mature. India’s federalism might make preserving a single foreign policy arduous. The fractious debate in Japan over the “normalization” of its military, currently bound by constitutional strictures, also persists. On the other hand, brewing security concerns are apt to outweigh domestic impediments to balancing...
...other hand, the population worldwide is getting older, especially in the developed world. Globally, the UN estimates that the proportion of people aged 60 and over will double between 2000 and 2050, from 10 percent to 21 percent, and the proportion of children will drop from 30 percent to 21 percent. This change also has numerous implications, including for the “dependency ratio,” meaning that fewer young people are available to provide for the medical and economic needs of the elderly. Much less heralded, however, is the fact that war is a young person?...
...mainstream pro-life movement operates as protest groups usually do - within the law, by peaceful means, working for legislative change on the one hand and cultural change on the other. But there is an uncomfortable consistency in the logic of the extremists: If abortion providers are mass child killers and the law refuses to act, the vigilante may see himself as the lone defender of justice - as vigilantes usually do. Operation Rescue founder Randall Terry, who in 1991 was arrested while protesting in front of Tiller's office, released a statement that began, "Dr. Tiller was a mass murderer...
...than that. But Geithner has known all along that there were two critical first steps the U.S. had to take in order to begin the process of reassuring its creditors. It had to demonstrate that it had a grip on the banking crisis - that financial Armageddon was not at hand - and it needed to show the world that a broad, macroeconomic turnaround wasn't too far down the road. Geithner is loathe to talk publicly about market behavior, but Treasury officials believe that a tightening of credit-market spreads shows an improvement in confidence. "Risk premia are receding in response...