Word: nationalism
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Citigroup, in an effort to improve its bottom line and repay the government, has put a "For Sale" sign on numerous pieces of its business, downsizing what once was the nation's largest bank. Citi's executives are taking a decidedly different tack in trying to rescue their firm than their competitors, and some analysts question whether the downsizing alone will be enough to turn around the bank...
...Citi executives are taking a different path out of the financial crisis than many of its rivals, which at times has been a benefit to those rivals. With the acquisition of Citi's Salomon Smith Barney, Morgan Stanley now has the largest brokerage force in the nation. And while Morgan has gotten out of some trading businesses, it is expanding its retail banking business. Executives at Bank of America and Wells Fargo say there are no plans to sell off major pieces of those banks...
...sure, there's no denying the facts. The U.S. is the world's largest debtor nation and only digging itself in deeper. Respect for corporate America is evaporating. Profligacy produced sham economic growth. A disconnect between Washington's global ambitions and its available resources - what British historian Paul Kennedy calls "imperial overstretch" - has undermined national strength...
...There is no doubt that China is the world's next superpower, but we sometimes forget that this is a nation that can't make safe milk, and where activists vanish from their homes. Look at how China exerts its new global influence - by backing some of the world's most odious regimes, in North Korea, Sudan and Burma. Most pundits mistakenly praise the Chinese system as blindly as they criticize the American one. Many economists ignore China's immense problems that could undermine Chinese growth in the future...
Nelson Mandela Foundation "We trust that this award will strengthen his commitment, as the leader of the most powerful nation in the world, to continue promoting peace and the eradication of poverty...