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...voices certainly think so. Nouriel Roubini, a professor at the Stern Business School at New York University, has warned for years of the dangers of a coming financial implosion. "The risk of a hard landing in China is sharply rising," he wrote recently. "A deceleration in the Chinese growth rate to 7% in 2009 - just a notch above a 6% "hard landing" - is highly likely, and an even worse outcome cannot be ruled out at this point." But other analysts, many of whom are China specialists, believe that a range of factors unique to the nation will not only likely...
...ability of the government to engineer major changes in the economy is particularly important today, considering many of the problems China faces were directly created by Beijing. Deeply concerned about an economy growing at a blistering 11% or more per year and a spiking inflation rate, the state set out to cool things down last year. That meant introducing new, tougher labor laws and other measures designed to shut down lower value-added production of goods like toys and garments, precisely the area where now, months later, hundreds of thousands of migrant workers are losing jobs. In the early...
Pink (as in slips) is the new brown. This fall a number of economists began predicting that unemployment would rise to 8% during this recession, up from a reading of 6.5% in October. It would be the highest jobless rate in years. But put into historical perspective, that forecast isn't too bad. A quarter of all adults were out of work during the Great Depression. More recently, unemployment reached 7.8% in the early 1990s, and climbed all the way to 11% in the beginning of the 1980s. We recovered from both of those recessions looking quite sprightly. But beyond...
There were obvious reasons for the Obamas to pick Sidwell Friends for their daughters Sasha and Malia. As the school that educated Chelsea Clinton, Al Gore III and the Nixon girls, it understands the unique personal and security needs of prominent children. It provides a first-rate education on two well-equipped campuses. Nearly 4 in 10 students are children of color. But the choice makes sense at a philosophical level as well, because of how Quakers view the challenge of shaping children into socially responsible and spiritually aware adults...
...crime generates and that has become entrenched over years and perhaps decades in the structures of power." It would seem that he made good headway this week. But as those years and decades have all too often shown in Mexico, the corruption usually gets generated at a far greater rate than any government can keep up with...