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...Much of this dynamic growth has been export-driven, benefiting the low- and medium-technology sectors of the economy. But China is beginning to move up the technological ladder and is becoming more innovative in certain sectors such as electronics and biotechnology. The country has become a manufacturing superpower and the workshop of the world, producing two-thirds of all photocopiers, microwaves and shoes; 60% of cell phones; 55% of DVDs; over half of all digital cameras; 30% of personal computers; and 75% of children's toys, plus a wide variety of other goods...
...Reining in the Banks At the World Economic Forum in Davos last January, some participants advocated radical measures to rein in banks, including regulating their operations so heavily that they would turn into low-risk utilities. No, said Jean-Claude Trichet, the president of the European Central Bank, that wouldn't solve the problem. What's needed, he argued, "are air bags, cushions and shock absorbers." Trichet has now detailed what he means. On Sept. 6, a group of central-bank governors and regulators from 27 countries that is chaired by Trichet published specific proposals that he said would...
...climatic horrors. From ports in China and India to delta populations in Vietnam and Burma, this fast-developing region has most of our planet's urban dwellers - and its most vulnerable cities. Asia is not alone, however. From Mombasa to Miami, climate change imperils 3,351 cities lying in low-elevation coastal zones, says UN-HABITAT, the U.N. agency for human settlements. Places that once thrived because of their proximity to rivers and oceans now seem cursed by it. (See pictures of the effects of global warming...
...aspiring politician taped ACORN workers advising him on how to launder money from a brothel to fund his campaign, the knives came out. The scandal--along with recent charges that Florida staffers had falsified voter forms--has been a blow to the group, which works on behalf of low- and middle-income families. The U.S. Census Bureau dropped ACORN as a partner in the 2010 population count, and the Senate voted to strip it of $1.6 million in grants. ACORN said it will stop advising new clients pending an independent review...
...help improve energy efficiency and "transition to a 21st-century clean energy economy." Phasing out subsidies for fossil fuels would save money - the Environmental Law Institute estimated that the U.S. paid out $72 billion in subsidies between 2002 and 2008 - and correct a market that has been warped against low-carbon alternatives precisely at a time when nations are supposed to be cutting carbon. But again, specifics of a concrete plan were wanting in Obama's speech. There was no mention of a timetable, and the proposal itself has little to do with the ongoing climate negotiations...