Word: huges
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Dates: during 2000-2009
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...announced that it had landed a deal to build a solar field bigger than Manhattan near the city of Ordos, Inner Mongolia. The project will dwarf the largest solar plants to date, and eventually generate enough electricity to power the equivalent of 3 million Chinese homes. To fulfill the huge demands, First Solar says it's considering building a solar-module manufacturing facility in the city to support the project. While financial details were not released, news of the deal caused First Solar's stock to jump 11% on the day of the announcement. "This major commitment to solar power...
...fast-growing country's huge appetite for electricity is behind the push. While China's total power capacity will nearly double by 2020, the amount that could come from wind and solar is expected to jump more than fivefold, aided by significant government assistance. Beijing announced in March it will subsidize 50% of costs for certain solar-panel projects, and 70% in remote regions. (See pictures of the new ways to boost energy efficiency...
...Some overseas firms insist that China is simply repeating an economic development strategy that has propelled the country's rapid progress in many other manufacturing sectors. The country has been able to use the lure of huge potential markets to entice foreign companies to hand over technology and know-how in exchange for lucrative deals, later using that knowledge to produce competitive products cheaper than those of overseas originators. Foreign companies built the generators for the first stage of the massive Three Gorges hydroelectric dam, but the generator contracts required the foreign makers to transfer technology to Chinese partners...
...extend their range. "It could be a big economic problem for countries like Australia," says Anthony Richardson, a marine biologist at the University of Queensland in Australia. If the deadly box jellyfish that plague the country's northern beaches migrate south to the Gold Coast, it could have huge implications for the region's multibillion-dollar tourism industry. (See TIME's special report on the environment...
During the postwar boom, pay for U.S. CEOs remained fairly steady in real dollars until the 1970s. But under new tax policies, the 1980s saw the rise of stock options. Intended to tie executive pay to performance, they offered the potential for huge riches with little downside, encouraging risk-taking. In 1991, CEOs earned 140 times the average worker's pay. A 1993 attempt to cap compensation merely shifted more pay into options. By 2007 the median S&P 500 CEO earned in three hours what a minimum-wage worker pulled down in a year. And Great Recession...