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...what happens to these relationships when one of us departs for a different continent. Emails are exchanged every few months, along with a badly connected phone call or two. But everyday life is all-consuming wherever you are, and at school I can barely remember to call my parents, let alone my former host family in Honduras...
...unquestioned leader of the global economy, is now in the midst of a disorienting shift in economic policy, away from the let-it-rip form of capitalism that has guided it for almost 30 years and toward more overt government control and regulation of huge swaths of the economy. No one yet can safely say whether this is wise, but in the U.S. it is certainly the stuff of increasingly fierce debate. No such doubts are evident in China, where the government reacted to the crisis with alacrity and the economy is now responding in kind...
...compared with $39,000 in the U.S. and $33,400 in the E.U. To be solidly middle class in China's big cities is to have an income of about $12,000. Brisk though auto sales may be, most Chinese still can't afford a Volkswagen or a Buick, let alone a BMW. Even as China's consumers feel richer, their share of its economy may not change much until Beijing enacts reforms to the health-care and social-security systems, steps that would give people more confidence to spend rather than save. Last year, says Peking University's Pettis...
...civilization as well as a nation state, a long-standing influence on the nations and cultures that border it, and a diaspora that impacts not just its region but the world. China's habits of governance, Jacques argues, are not those of the Western world; its values (let us say harmony and stability, rather than liberty and justice) are not those of the West. The roles of both the state and the extended family as social mechanisms in China differ from those in modern Western societies. All of this, Jacques argues, means that the 21st century will...
...Part of that return to normal is driven by a return to reasonable lending: people aren't buying more than they can afford to because banks won't let them. When the Robertses first met with mortgage planner Iva Deobald last year, she told them to go away, pay down their credit-card and student-loan debt and then come back with a better set of financials. Deobald says, "I'm back to what I used...