Word: sameness
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That doesn't mean there's no downside. Supersized sovereign debt is likely to depress economic growth. Hefty debt payments lead to heftier taxes, which bite into consumer spending and corporate investment. Economists Carmen Reinhart of the University of Maryland and Kenneth Rogoff of Harvard University found in a recent...
Nowhere is the urgency to deal with debt greater than in Europe, where it has become the most serious test of the 11-year-old euro-based monetary system. While euro-zone nations use the same currency, there is no mechanism in place to financially aid wayward members. That's...
The same realization will have to come to governments across the developed world. But S&P's Beers warns that process has only just begun. "There is hope that somehow the square can be circled," he says. But "it is going to be increasingly hard to say there aren't...
Today, penalties for harming tigers in China are harsh - a villager in Yunnan province was recently jailed for 12 years for killing and eating what might well have been the country's last wild Indochinese tiger. But the laws are patchily enforced. In December the SFA released a directive promising...
Into the Wild Tigers breed easily - they are cats, after all - and some 5,000 are kept on farms across China. The recent SFA directive pledged to better regulate these farms, but not to shut them down. This makes a mockery of China's avowed concern for tigers, say many...