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China announced a huge economic stimulus package on Sunday, pledging to spend some 4 trillion renminbi - about $586 billion - on a wide range of moves designed to boost an economy starting to feel the effects of the worldwide financial crisis. The move was widely welcomed by economists and investors. The Hong Kong Stock Exchange's main index gained 3.5% on the following day, while the Shanghai Composite Index soared...
...While the short-term boost that the plan would give to China was the center of attention in Asia on Monday, some analysts said the move marks a significant turning point in the development of China's economy that will be felt for years to come. "I think in a decade, we'll be looking back at this moment and saying, 'This was it. This was when things really changed and China's economy transitioned from externally, export-oriented to an internal focus,'" says Ben Simpfendorfer, a China economist with the Royal Bank of Scotland in Hong Kong. He Liping...
...himself.Kaufman’s work has always defied classification. The internalized aspects of scripts like “Being John Malkovich” or “Eternal Sunshine of the Spotless Mind,” as well as the overt absurdity of those internal structures as they move through the story, leave the works themselves astride a prism of possibilities—comedy, drama, fantasy, and autobiography. “Synecdoche” flirts with all of these labels and deigns to dwell in their respective cultures from time to time, but ultimately stands apart as a movie...
...torn, because he had spoken openly of wanting to follow Nancy Pelosi as Speaker of the House. But Emanuel's path to the Speakership wasn't guaranteed. More important, his wife and three children live in Chicago. Friends say Emanuel struggled with the idea that he'd have to move his family to Washington and that his family was reluctant to do it. In the end, Emanuel said yes. "A new President, a person you know well and respect immensely, asks you to be White House chief of staff for the most historic presidency of your lifetime?" says an Emanuel...
...when new unemployment figures and auto maker losses revealed the depth of the country's economic woes, Obama was appropriately sober and brief, focusing most of his opening statement on his determination to pass a stimulus package and get the economy moving again. "It is not going to be quick and it is not going to be easy for us to dig ourselves out of the hole that we are in, but America is a strong and resilient country," he said in his opening statement. But the president-elect did seem in great spirits, joking with a small group...