Word: rising
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...That's an increasingly common wish in China, where after years of high economic growth and relatively stable consumer prices, inflation is back on the table - and a bitter fruit it is. China's Consumer Price Index showed a 5.6% year-over-year increase in July, the sharpest rise in more than a decade. Food prices soared 15.4%, with meat and poultry alone rising 45% due to shortages caused by outbreaks of livestock disease as well as severe flooding in agricultural areas. But it's not just food prices that are taxing consumers. The costs of rents and mortgages were...
...option to cool things off - one that Beijing's major trading partners are privately urging - would be to allow China's currency to rise more swiftly in value. That would reduce the price of imported goods; it would also relieve some pressure Beijing is getting from U.S. Congressmen, who accuse China of manipulating its currency for trade advantage. Allowing the renminbi to rise might slow China's export-driven growth a bit, at least in the near term, but that may be a price worth paying. The question for Beijing is: will the country absorb a little pain...
...Deal with Dictators"[Aug. 6]: I was disappointed to read Peter Beinart's suggestion that bringing Benazir Bhutto back to power is the ideal way to solve mushrooming fundamentalism in Pakistan. It seems he has forgotten or is simply unaware of Bhutto's role in the rise of the Taliban in Afghanistan. Her government was the first to recognize the Taliban regime after it took control of Kabul in 1996 and hailed its leaders as agents of peace in the region. Bhutto's secularism is no more sincere than that of General Pervez Musharraf or any other Pakistani leader. Forogh...
...Still, car ownership is likely to continue to rise in countries such as India for the same reasons that Western cities with great mass transit are bumper-to-bumper anyway: people buy cars for convenience and status. Kant of Tata Motors says he's sick of going to parties in India and in the West and listening to "these rich people ask about congestion and pollution and global warming. I ask them, 'Sir, will you stop using your car and start taking the bus?' People should be thanking us our cars are small. Let all those SUVs in America...
...bring in more home buyers, lenders began offering mortgages with only a cursory scrutiny of the borrow's qualifications. Many of these loans - including subprime mortgages going to people with weak credit - had low starting interest rates that would rise over time. ? Subprime mortgages as a percentage of all mortgage originations...