Word: market
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There's little disagreement that by picking up the banks' half-a-trillion-dollar repair bill, taxpayers got a rotten deal in the financial meltdown. How to make sure they're not forced to pay a second time is unclear. A levy on financial-market transactions, stretched beyond foreign-currency trades to cover stocks, derivatives and other clever instruments, might offer twin benefits. By slapping an additional fee on each transaction, the tax "would naturally drive [investors] toward those that are more sensible, more profitable, more rational," suggests Julian Jessop, chief international economist at the consultancy Capital Economics in London...
...tobacco industry sees Asia as its most promising market, says Bangorn. Though Thailand has strict controls on smoking in public places and bans advertising of tobacco products, more than 14 million of its 65 million people are smokers. In Southeast Asia, 125 million - or 31% of adults - smoke, and China alone has some 350 million smokers. The alliance claims that 2.4 million people in Asia die each year from tobacco-related causes, the equivalent of 6,575 people...
...that the ministry opposed Tabinfo 2009 and the tobacco industry in general. "The tobacco industry has been pushed out of the developed world, and now it is trying to exploit the developing world. We are certain that it will try every trick in the bag to penetrate the Asian market," says Hatai Chitanondh, a public-health activist. Says Bangorn: "It's just killing people for profits...
...make that happen." Tam, a graduate of MIT and the University of California, Berkeley, says he does deals in Beijing rather than Silicon Valley these days "because I believe this is where these new industries will really take shape. China's got the energy, the drive and the market to do it." Isn't that the sort of thing venture capitalists used to say about the U.S.? (See pictures of the global financial crisis...
...Chinese - believe that the obsession (and that's the right word) with education in China is overdone. The system stresses rote memorization. It drives kids crazy - aren't 7-year-olds supposed to have fun on Saturday afternoons? - and doesn't necessarily prepare them, economically speaking, for the job market or, emotionally speaking, for adulthood. Add to that the fact that the system, while incredibly competitive, has become corrupt...