Word: marketized
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There are no kids in Hollywood, only a kid market. So the moguls gleefully rub their rough hands at the recent blooming of animated features into a reliable blockbuster genre. Anyone could have predicted that Pixar's Up, Blue Sky's Ice Age 3 and DreamWorks' Monsters vs Aliens would be among the year's top-grossing pictures, but who saw Cloudy With a Chance of Meatballs coming? The success of Meatballs, G-Force and Where the Wild Things Are underlines the movie industry's hope that in every jaded teen or wizened adult there's an inner child whose...
...Generic Nudge The question before Waxman's committee last summer was this: How many years of monopoly protection should be afforded to biotechnology drugs, known as biologics, before cheaper alternatives are allowed on the market? These miraculous drugs - which differ from traditional, chemical-based pharmaceuticals because they are derived from living matter - are widely regarded as the future of the pharmaceutical industry and, indeed, of medicine itself. While only 20% of drugs on the market today are biologics, it is expected that, with 633 biotechnology medicines in development last year for more than 100 diseases, half the new drugs approved...
...ways to control health-care costs, the price of biologics is drawing more and more scrutiny. The obvious model for bringing in competition is a 1984 law that Waxman wrote with Republican Senator Orrin Hatch. It lowered the regulatory obstacles that prevented generic drugs from making their way to market. At the time, it was expected that fast-tracking the approval of "bioequivalent" drugs would bring down medical costs by $1 billion a year. But with generics now accounting for more than 70% of prescriptions dispensed in the U.S., "the actual savings have exceeded our wildest expectations," Waxman said...
...resolved - in favor of protecting the biotech industry or opening up the market to generics - may say a lot about which interest groups will ultimately reap the windfall of the big-stakes battle in Washington. What it means for consumers is somewhat murkier: Will a miracle cure be there when you need one? And if it is, will you be able to afford it? Those are questions that hinge on whether the rest of us can trust Congress to find proper balance between competition and innovation...
...stronger-than-expected rate hikes," wrote Jun Ma, an economist at Deutsche Bank in Hong Kong, in a September note. Concerns are also mounting that continued loose monetary policy in Asia could fuel dangerous and unstable asset price bubbles, especially in property. There has been some speculation in financial markets that South Korea's central bank could raise interest rates in the coming months to cool a roaring housing market. Frederic Neumann, an economist at HSBC in Hong Kong, says Asian central bankers might need to hike rates by four percentage points over the next year - much more than...