Word: rising
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...fact is that the world economy continues to be burdened by heavy baggage created during the boom times, problems that could take years to resolve. U.S. consumers are undergoing their own debt workout, one that might even worsen if joblessness continues to rise. Though defaults on credit cards in the U.S. fell in October, delinquencies, or late payments, rose - a sign that financial firms could expect more losses down the road. Japan, which experienced its fastest growth in two years in the third quarter, is dealing with the nasty problem of deflation, an indication that the economy is suffering from...
...That's not only because of government largesse. As wages and land prices rise precipitously in China's coastal cities, Chinese companies based there are investing in operations in less-developed Xi'an to capitalize on its lower costs and tap a cheaper labor market. About 70% of Xi'an's domestic investment comes from the southeast coast. For example, in late 2008 Shenzhen-based cell-phone maker ZTE announced it would invest $880 million in manufacturing and research facilities in Xi'an that will ultimately employ 26,000 people. Hybrid-car maker BYD, also headquartered in Shenzhen, has turned...
Having spent a week in Asia and three intense days in China, President Barack Obama set a constructive tone for the future. He welcomed the emergence of China as a new force in the global economy and rebuffed suggestions that its rise should be seen as a sign of American decline. Chinese officials expressed concern about a weak dollar but committed to working with the U.S. to stabilize the global system. Hardly anything concrete was accomplished, but the trip cemented the centrality of the U.S.-China economic relationship and the fact that the two economies are, for now, intertwined...
...emergence of China will shape the world much as that of the U.S. did in the late 19th century. What remains to be seen is whether the rise of China will complement the U.S. or undermine it; whether the future will bring a new, cooperative and mutually beneficial economic order rather than a predictable replay of one great power giving way to the next. That future - burgeoning with possibilities and fraught with challenges - is ours to write...
...after the killings, Arroyo put two southern provinces and a city under a state of emergency and deployed more troops to the area. All permits to carry firearms there have been canceled. "Retaliatory violence can be expected although a small chink of hope remains that Mangudadatu may rise above rido and avert further bloodshed," says Ian Bryson, a regional analyst at Singapore-based Control Risks...