Word: reines
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...they can't be expected to constrain their growing economies to slow carbon emissions, but it's difficult to see how citizens in developed countries - and not just in the SUV-loving United States - will accept strict limits while their economic competitors in India and China are allowed free rein. Nor is there much time to figure it out. "We only have two years to reach an agreement on post-Kyoto, and only three years to prepare the ground," says Achim Steiner, the executive director of the United Nations Environment Programme. "It's down to the wire...
...power has eroded his ability to tackle terrorism and extremism, but neither Bhutto nor Sharif would necessarily be a more effective ally in Washington's war on terror. A Bhutto-Musharraf pact would probably further incense militants. Sharif has a better relationship with the religious groups who might rein in the tribal militants, but may be less inclined to do the bidding of the U.S., particularly at a time when being seen to be allied with Washington is a political liability in Pakistan...
...halt such excess? Keynes proposed taxing financial transactions to discourage speculation, an idea that remains popular in antiglobalization circles but has never gained traction with U.S. lawmakers. Shleifer favors protecting consumers from some financial-market excesses--via mortgage lending regulations, for example--but is dubious of attempts to rein in markets themselves. Bogle has argued that professional investment managers wouldn't run off the rails so often if they were forced--by custom and by law--to place more emphasis on moral and fiduciary duty. The unavoidable reality, though, is that the pros simply can't be expected...
...have fallen 20% or so in some areas in the past six months. Both the government and the Reserve Bank of India are trying to cool the real estate sector without crashing it. The RBI has raised interest rates six times in the past 18 months to try to rein in inflation, which peaked in March at an annual rate of 7%. The Securities and Exchange Board, meanwhile, has tightened up regulations on foreigners investing in real estate firms ahead of public listings. All that has made it harder and more expensive for Indian builders to raise money...
...restive population is worrisome to Chinese government officials, because high inflation historically has led to political problems. Rising prices helped to foment massive civil unrest in 1989, and peasants to this day are resentful over harsh measures the central government used in the mid-1990s to rein in inflation, such as a crackdown on bank lending that brought growth to a halt in areas outside major cities. Inflation is not just a domestic concern, either. Because China supplies so much of the world's manufactured goods, higher costs on the mainland tend to show up on store shelves...