Word: musts
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Dates: during 2000-2009
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...China's action appears as an eye-for-an-eye reaction to Obama's decision. On Monday, China sought talks with the U.S. through the World Trade Organization to resolve the dispute, while in a speech in New York, President Obama defended the tire tariff, saying trade agreements must be enforced if the global trading system is to function. (See pictures of Barack Obama's family tree...
...most powerful military alliance, born from the ashes of World War II and shaped by its frontline role in the Cold War, into something that's "relevant in today's world." NATO will continue to be the guarantor of territorial defense for member states, he says, but it must also become "a provider of global peace and stability" by targeting threats - terrorism, piracy - in distant lands. It needs to be more flexible and agile, and should work more closely and more smartly with civilian institutions like the U.N., the European Union and the World Bank. (rEAD: "As NATO Gathers...
...must keep a lid on deficit spending "to demonstrate that they're fiscally responsible," says Gerald Curtis, a Japanese-politics expert and professor at Columbia University. Not everyone is convinced they'll succeed. Masaaki Kanno, chief economist at JPMorgan Securities in Tokyo, is skeptical that cutting wasteful spending will compensate for growing expenditures: Japan's aging population means social-security spending alone must expand by $10.7 billion annually over the next five years. "The DPJ will have to show people a consistent way to finance additional spending," Kanno says. "This has nothing to do with political ideologies...
...Diversify Japan Inc. Japan must finally abandon the script it followed to become an industrial superpower. The global economic crisis has exposed the country's overdependence on its manufacturing-for-export model. GDP in the first quarter plunged a staggering 15.2% as demand evaporated for cars from Toyota, Honda and Nissan and for high-end electronics from Sony and Panasonic. Japan can no longer expect economic growth to be generated almost exclusively by a handful of powerful multinational manufacturers. Increased domestic consumption as well as investment in small- and medium-sized enterprises are needed to help drive economic growth. This...
...party's plan to increase disposable household income through direct payments like monthly child allowances could stimulate domestic consumption - but far more must be done to restore public confidence. Japan will not reform its economy unless its people feel secure. That's why it's vital for leaders to push ahead with reforms to pension, health-care and unemployment systems. Japan's current social-security programs hark back to an era of guaranteed jobs for life, which places unsustainable financial burdens on companies and individuals. Until modern safety nets are built, it will be impossible to make Japan more efficient...