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When Sgt. James Crowley arrested Professor Henry Louis "Skip" Gates for disorderly conduct in July, it's unlikely that Crowley foresaw what was to come: a nationwide debate over race relations that made even Mr. President lose his cool, and an ensuing "beer summit" at the White House that was meant to diffuse the tension surrounding the controversial incident. Though an October night at the bar seemed to indicate that Gates and Crowley have since kissed and made up, the brouhaha evidently has yet to subside...
...Last month, the House narrowly passed a financial-reform bill that included many of the Administration's priorities, including a strong consumer agency. It received no Republican votes. Senate Banking Committee chairman Christopher Dodd has been trying to forge a bipartisan consensus around a similar bill, but Republicans have made it clear that the consumer agency is a deal breaker. And the Hill is swarming with financial lobbyists who are desperate to preserve the status quo. (See judgments of Obama's first year, issue by issue...
...endless delays and deals - which thanks to Brown would now require cooperation from at least one Republican along with a number of skittish or recalcitrant or opportunistic Democrats - the White House wants to take financial reform to the court of public opinion and pressure Congress to go along. Obama made it clear that when it came to health care he would sign just about any bill; with finance, he's putting down markers that he's perfectly willing to accept no bill (and a potentially explosive political issue) as opposed to a watered-down compromise bill...
...increase in cheaper foreign-sourced goods can lead to inferior quality and buying decisions being made in favor of price over quality," says Peter Wong, an executive director with HSBC in Hong Kong. Vietnam, too, could lose in this scenario, as many of its manufactured products compete directly against Chinese goods on the global marketplace on the basis of lower cost...
...Before the free-trade agreement kicked in this month, Yap was paying customs duty in China on his fish that amounted to roughly 6% of their cost, he says. As a result, China only made up slightly less than 10% of Qian Hu's $67 million in 2009 revenue, a share that Yap aims to triple over the next five to 10 years now that the tariff is gone...