Word: reformer
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...could see. Wait. It was only a few months ago. In April the White House projected a surplus of $281 billion for this fiscal year and $3.4 trillion for the next 10 years--enough to fund Bush's tax cuts and Congress's spending programs, missile defense and school reform, private Social Security investment accounts and a prescription-drug benefit for seniors, with a ton of money left over to pay down the national debt...
That temperament is ill suited to the byplays, gambits and bluffs of negotiation and is one reason his big tax-reform plan and other domestic initiatives haven't got far. But no Mexican President--ever--has gone over in the U.S. the way Fox has. "I was watching the political elite going nutso for this guy. It was like Madonna had come to town," says Ana Maria Salazar, a former Clinton Administration official now teaching in Mexico, describing Fox's appearance one year ago at an Inter-American Development Bank event in Washington. And no Mexican President has ever...
With unemployment inching up in the U.S., Washington legislators may balk at any kind of guest-worker reform. But, Castaneda argues, "the economic downturn, for the moment at least, is not affecting the sectors of the [U.S.] economy where Mexican immigration is a factor. We are not hearing about layoffs in hotels or restaurants or the fields of California or the meatpacking plants of Iowa or the flower shops in New York. Companies where Mexican labor is employed are telling us there is no slackening of demand...
WHAT HAPPENED: Exports of high-technology components have been hammered by the Silicon Valley bust. Japan's recession removes another potential buyer of Asian goods. Reform programs that followed the financial crisis of 1997-98 have stalled, leaving many banks and corporations heavily indebted. Political instability has hurt prospects for the Philippines and Indonesia...
OUTLOOK: Until the U.S. picks up, there's little hope for a recovery in Taiwan, Thailand and South Korea, which is facing economic-reform issues much like Japan's. The region's bright spot: China, boosted by high levels of foreign investment, may grow by 8% this year (if you believe the official figures...