Word: sectoral
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...unless retailers persuade consumers that redemption - for individuals, for businesses and for the wider economy - lies in more generous spending, Britain's downturn threatens to be steep indeed. According to the British Retail Consortium, retail sales account for a fifth of the nation's economy, with the sector responsible for some 8% of GDP and employing 11% of Britain's total workforce...
...fact the public's response to the disaster marked an epochal shift in the whole business of Chinese philanthropy. But the One Foundation's businesslike style and the way in which it has made charitable giving a matter of a mouse click or a text message hopefully presage the sector's future...
...inopportune time. Concerned earlier this year about spiking inflation and a blistering yearly growth rate of 11% or more, China's economic czars set out to cool things down. They introduced tough labor laws designed to decelerate production of lower-value-added goods. It's in that sector that hundreds of thousands of workers are now losing jobs. The same holds true for the bubbling property market, where Chinese authorities conveyed to potential home buyers that they would be wise to hold off. "The government basically said, 'You'd be an idiot to buy an apartment right now because...
Health care: While Obama cannot insert a fully formed, carefully drafted plan for universal health coverage into a hurried-up economic-stimulus plan, transition aides say he will direct billions toward the health-care sector immediately. Some will go to a massive tech upgrade for an industry that in many ways is still paper-based. More urgent is the need to funnel cash directly from Washington to states so that local legislators don't rush to cut spending on Medicaid as state tax receipts dry up in the recession. "Absent some relief there, you'll get Medicaid budgets slashed," says...
...pipes, but at 1% of GNP, it represents a very timid response to recession," says Karel Lannoo, an economic expert and chief executive officer of the Center for European Policy Studies in Brussels. "By contrast, the $2 trillion to $2.2 trillion used to keep Europe's financial sector from collapsing represents around 17% of E.U. GNP. That, too, was promised by national governments but was the result of more coordinated and better funded reaction to crisis...