Word: openness
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...four minutes, because the interruption in circulation caused brain damage. That changed in 1953, when Dr. John Gibbon Jr. of Philadelphia used a heart-lung respirator to keep an 18-year-old patient alive for 27 minutes while he repaired a hole in her heart, paving the way for open-heart surgeries to enter widespread use. (See pictures of the Cleveland Clinic's smarter approach to health care...
Developing Berlin without destroying its sometimes still subversive culture is a difficult balancing act. The city doesn't have set nightlife hours, so bars and clubs can open and close their doors whenever they like. That means Saturday nights usually start around midnight and at some of the best-known clubs - such as Berghain, which Britain's DJ Mag this year named as the world's best club - keep going until the following afternoon. There's always a risk that gentrification will spoil the vibe. One of the biggest haunts in the early 1990s was Tresor, a subterranean space near...
...Wuling minivan dealership on the outskirts of the western Chinese city of Xi'an provides hope for the future of the global economy. On an ordinary Wednesday morning, customers steadily stream into the showroom, briefly open and close the doors to the displayed minivans, manufactured by a joint venture between General Motors and two Chinese carmakers, and then march over to the front desk to plop down their money. While salesmen in the U.S. struggle to move cars off their lots, Xu Zhanrong, the deputy general manager of the Xi'an dealership, can barely keep the Wulings in stock. Sales...
...whether or not they will buy remains an open, and crucial, question. Even though Chinese are becoming wealthier, they are actually saving a greater percentage of that new wealth. Cornell University economist Eswar Prasad figures that China's average urban household saving rate reached 28% of disposable income in 2008 - 11 percentage points higher than in 1995. As a result, the role consumer spending plays in China's economy continues to head in the wrong direction. Private consumption accounted for a mere 35% of GDP in 2008, down from 46% in 2000. China's ratio stands at about half that...
...still tend to be very heavy savers. Huang suggests that China needs to act aggressively to boost rural incomes, by, for example, extending banking systems deeper into the countryside to give farmers better access to credit to start small businesses. MasterCard's Hedrick-Wong argues that China should also open up service industries now dominated by large, state-owned companies, such as finance, to allow new entrepreneurs to flourish, creating more jobs with higher wages...