Word: japanized
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...youth without an hour slouched on a wooden pew. You see, my father was once one of you. Like many Irish-American boys of his generation, he joined the seminary as a teen and wore the collar until his mid-30s. On his mission in Japan, he met a lovely young Buddhist whom he successfully converted. After he wrote to the Vatican and renounced his priesthood, she in turn successfully converted him into a husband. I am one of four offspring of a former priest and a convert who overcame great odds--even scandal--to marry in the faith. Mass...
...hurting the developed economies. Economists calculate that international trade adds about $1 trillion a year in benefits to the U.S. economy. Even the offshoring of white-collar jobs, despite the hardship it brings for laid-off workers, is a net gain for developed nations like the U.S. and Japan, as well as for the country where the jobs land. Every dollar of spending that U.S. companies transfer to India creates $1.46 in new wealth, according to McKinsey & Company, a management consultancy...
...potential for trouble goes both ways. Indeed, the scale of U.S.-China trade dependence is worrying even some stalwart free traders. "In the globalized world of today, there is no risk if America, Europe and Japan stop producing T shirts or television sets," says Jean-Pierre Lehmann, professor of international political economy at IMD, the international business school in Lausanne, Switzerland. "My concern is that the U.S. in particular is far too overdependent on China, not just for goods but also for finance. So there is nothing wrong with the U.S. sourcing its consumables outside...
KASHIWAZAKI, JAPAN...
...British Prime Minister last month, Gordon Brown's speeches often included a familiar refrain. Britain's economy, the then-Chancellor of the Exchequer would thunder, boasted sustainable growth - averaging almost 2.9% over the past decade, modest interest rates and low inflation. "Of all the major economies - America, France, Germany, Japan," Brown boasted late last year, "Britain has enjoyed the longest postwar period of continuous growth...