Word: primed
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...Taiwan recently unveiled a $5.6 billion spending package for its sagging economy that included subsidized mortgages and new infrastructure projects. Japan's Cabinet on Sept. 29 proposed a $17 billion supplementary budget to help ease the burden of high energy and food prices on businesses. Newly installed Prime Minister Taro Aso is also calling for tax cuts to boost domestic demand. "Rebuilding the Japanese economy is an issue of utmost urgency," Aso said in his first policy speech. China, which could see its GDP growth rate fall below 10% next year for the first time since 2002, is widely expected...
...Asia is somewhat better protected than other parts of the world against recession. For one thing, most Asian governments are in sound financial condition and can prime their economic pumps almost at will, says Song Seng Wun, regional economist at CIMB-GK Research in Singapore. "They all face the downturn with a few more bullets in their pocket than they had in the past," he says. The high growth rates of the past several years provide an additional buffer. With the exception of slow-growing Japan, which may already be in a recession, Asian countries will likely account...
...accused him of everything from dishonesty to cowardice, not only through his books but in the letters and diaries that make up the Jack Fingleton Papers, stored in 27 boxes at the State Library of New South Wales. These documents, which include chummy correspondence with several Australian Prime Ministers, were a boon for Fingleton's biographer, Sydney journalist Greg Growden, who's written a book that would have Bradman, topical again in the centenary of his birth, turning in his grave...
...truck packed with 600 kg of high-grade explosives rammed into the Marriott hotel on Sept. 20, city officials have scrambled to reverse the plan, hoisting in concrete barriers to slow traffic, setting up police checkpoints, and seriously beefing up the "red-zone" security area around parliament, the prime minister's house, other government buildings and big hotels...
...ructions in Washington and Wall Street stole the headlines from the Conservatives' annual conference, held this year in Birmingham, Britain's unlovely second city. The Labour party, divided and unpopular, had held their own yearly get-together the week before. It managed a show of unity behind beleaguered Prime Minister Gordon Brown, securing a boost in the polls that halved the Tories' lead from 20 points to 10. Cameron and his colleagues planned to use their conference to win back the initiative and the limelight. That chance was torpedoed when the House of Representatives rejected the bailout package on Sept...