Word: laboral
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...into the Ohio-size expanse of rose farms, medieval monasteries and Roman ruins. Visitors, especially Western Europeans, are flocking to ski resorts in the Rila and Pirin mountains and have even sparked a property boom in Bansko, where investors are scooping up cheap vacation homes. Meanwhile, low-cost labor, economic incentives and proximity to the rest of Europe are luring record levels of foreign investment from companies like French car-parts manufacturer Montupet, Chinese TV maker SVA and U.S. energy firm AES--even though Bulgaria still has a ways to go in cleaning up corruption...
...free trade’s effect on the United States. Robert Z. Lawrence, the Williams Professor of International Trade and Investment at the Kennedy School of Government, said in an interview that Summers and Rubin were “not denying that there are serious issues in the U.S. labor market with respect to inequality but that trade is the wrong instrument to deal with it.” “We need other measures, we need other policies, but [curbing free trade] is not the right solution,” he said, characterizing the secretaries’ views...
...TIME: That was your husband's Adminstration, wasn't it? Because I recall a lot of debate about it not having labor standards and environmental standards...
...voted against CAFTA [the Central American Free Trade Agreement], because I looked at the facts and I thought we have no environmental or labor standards-something that I believe is within the rubric of free trade. Free trade doesn't mean trade without rules. It doesn't mean a race to the bottom. It's supposed to be based on comparative advantage, so the trading partners all improve their standard of living. If you don't have some rules that will create conditions for employees to be treated fairly, the money is all going to go to the pockets...
...London's advantages. Not only does London have a "deep pool of talent," says William J. Mills, ceo of Citigroup's Corporate and Investment Banking division for Europe, the Middle East and Africa. But compared with its Continental rivals, it offers "the most flexible labor laws." While the number of financial-sector staff in London rose 4.3% to 318,000 between 2002 and 2005, tough U.S. immigration rules applying to foreign talent helped New York's head count slide by 0.7% over the same period, according to a report published late last month by McKinsey. London's geographic position also...