Word: market
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...familiar dream: of a newly emboldened world power stepping up to calm trouble spots, using aid and persuasion where it could, but prepared to send in troops when it had to. Brussels would lead the fight against climate change. And Europe's economies would prove to the ruthless free markets of North America and Asia that the social market still offers the best way out of an economic crunch...
...regularly engulfed the continent for centuries. Judged by that measure - and notwithstanding the pathetic failure to prevent or quickly end the wars of the Yugoslav succession - the E.U. has worked out fine. For most of that time, its leaders have been happy to concentrate on domestic policies: a single market, a European currency, free movement of people. The E.U.'s defenders, moreover, would argue that in its immediate neighborhood, its success has had a "demonstration effect" that is not to be underestimated. Just as Greece, Portugal and Spain wanted to lock in their democratic rights by joining...
...multinational body. There's also a case - and plenty in Europe make it - that Europe is better off continuing to aim low. "Very few European countries see the role of the E.U. as a power," says Moïsi. "They see Europe as a place - with a common market, a common currency, but not a power that should project itself onto the outside world." (See pictures of immigration in Europe...
...before China has a consumer-driven economy like that of the U.S., but with retail spending rising by double-digit percentages every year, the immediate future looks good. For the most part, the companies poised to enjoy the splurge will not be multinational but Chinese. They know their home market, and how to overcome its obstacles. Some also offer instructive examples for foreign enterprises keen to ride the growth of Chinese consumer culture. Here are four: (See pictures of China's infrastructure boom...
...parties are best placed, she says, to promise handouts and paternalism, the things people want at a time of financial crisis. "We've played that bloody game with the Bolsheviks before, and the motives behind these protests are again material. These people don't want to hear about free-market capitalism and European integration. These are foreign notions here, and they will support anyone still capable of throwing them a bone. Don't be confused. The government still has bones to throw...