Word: pull
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...China needs a new economic miracle - and the trajectory of the global economy may depend on whether one can be conjured up. China, theoretically, should be one of the locomotives that will eventually help pull the world out of its slump. That won't happen overnight; overhauling the world's fourth largest economy is going to take some time. For the moment, to tread water, Beijing is frantically throwing money at infrastructure projects, much as U.S. President-elect Barack Obama now promises to do in America. But ditch-digging on a national scale, Beijing knows, will not take China where...
...technocrats in Beijing pull this off? The country has an advantage: it has not yet leveraged its enormous domestic market. The service sector has huge potential. Consider entrepreneurs like Colleen Wang. Instead of employing low-wage metal benders, Wang's ad agency, Rayken, provides jobs for young, middle-class professionals: graphic designers, art directors, a couple of account executives and several copywriters...
...quickly a new story can be written may depend largely upon the Chinese people becoming a whole lot better at consuming more and saving less. But, while the authoritarian government continues to pull the strings in many parts of society, Beijing cannot simply order citizens to buy Gucci for the good of the country and the world. Chinese save much of what they earn because the government has yet to provide the web of social services available in other countries. China's national social security system and government health-insurance schemes are drastically underfunded, and moreover don't cover...
...next miracle, in other words, may be harder to pull off than the last one. That doesn't mean it won't happen. Consider what, in 1978, constituted a "rich" eligible bachelor in urban China. He had to own a radio; he had to be able to buy his bride a fashionable wristwatch made by a state-owned company no one would ever confuse with Rolex. And he had to commute on the coolest set of wheels available: a bicycle called the Phoenix...
...small surplus for the first time in recent memory. This year, the UC will need to stretch its budget even more in order to help mitigate the increased burden felt by student groups and house committees as publications find the pool of advertisers shallower and formerly robust corporate sponsors pull out of events they have traditionally funded. However, while it is necessary for the UC to be more judicious with its funding policies and financial management, it is equally essential for student groups to review their own operations conscientiously to help ensure that the UC’s limited budget...