Word: mercantilists
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...population, its consumers spent about $10 trillion in 2008. By contrast, although China and India collectively account for nearly 40% of the world's population, their combined consumption was only about $2.5 trillion in 2008. During the boom, China and the rest of Asia reaped enormous benefits from a mercantilist growth model that was tied increasingly to the voracious appetite of the American consumer. Unfortunately, Asia did not do a good job in hedging that bet. The U.S. could now be in the early stages of a multiyear consumption retrenchment, making the problems of an unbalanced, export-dependent Asian economy...
...haven't these countries' currencies been gaining on the dollar? Because their governments won't let them. China's dollar peg, established in the mid-1990s, is often portrayed in the U.S. as a mercantilist attempt to sell more stuff here (if the Chinese yuan is cheap relative to the dollar, imports from China are cheaper too). But there's much more to it than that: by reining in the often pointless fluctuations of currency markets, countries can bring stability and encourage trade...
...senior administration official put it earlier this week, "Some have said that China takes a rather mercantilist approach to these situations. We've got to have a better dialogue with the Chinese about what their international responsibilities are in situations like this. They can't just see it from a dollar-balance sheet point of view...
...this side of Andy Warhol and Jeff Koons (both of whom Murakami counts as major influences) have spent as much time strategizing their careers, calibrating their output according to the laws of supply-and-demand?all the while keeping an eye on how the mandarins of culture perceive their mercantilist ways. (Is he a sellout? Is it art? Are such distinctions even relevant anymore? These are questions that fuel Murakami's career.) Murakami purposely engineers a neo-Pop Art universality to his work, making his art both effortlessly accessible and intellectually provocative?an ingenious feat. His sometimes sincere, usually ironic...
Critics still maintain that the economic benefits outweigh any ecological harm done by the logging. This view, however, flies in the face of reality and simply reflects the outdated economic analysis of a neo-mercantilist economy that relies on natural resources to provide growth. America has been moving toward a service economy based on information and technology for many years and logging represents the past not the future. In 20 years, when all the forests have been logged, those workers that benefit today will again be facing unemployment, with the only difference being the destruction of the forest. But even...