Word: sectoral
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...government already rescue Citigroup? True, this is not the first government handout. On Oct. 13, Treasury told Citi and eight other large banks that it would be buying billions of dollars worth of stock in their institutions, the opening move in a mass recapitalization plan for the banking sector. Citi got $25 billion in exchange for preferred shares on which it is to pay 5% interest for five years and then...
...There is no doubt that government intervention is an absolute necessity when markets go horribly awry. After Japan's stock-and-real-estate bubble burst in the early 1990s, the economy staggered along for half a decade until the government finally stepped in to restructure the financial sector. During the Asian financial crisis of 1997-98, state action was crucial to rebuilding moribund banks and companies...
Over the past three decades, the United States has slowly but surely shifted away from an economy based on the secondary sector and transitioned into an era in which knowledge-based service industries dominate. In this “new economy,” those with postsecondary degrees are essential to the economic wellbeing and competitiveness of the United States. But in spite of our nation’s voracious appetite for well-educated professionals, our immigration system—specifically, the allocation of H-1B visas for gainfully employed graduates of American educational institutions—is woefully...
...different. It remains a unique mixture of raging, visible capitalism resting on a foundation of state-owned enterprises, which, the Merrill report points out, still account for 33% of industrial production and 45% of investment in China's cities. Beijing also still holds sway over its domestic banking sector, particularly in times of crisis that threaten the Party's power. "On the outside, China's banks do look a lot more like normal Western commercial banks," says one investment bank analyst with a decade of experience in China. "But every single senior officer - right down to the manager...
...came out to Congo with a certain function - to reinforce the authority of the state. But now the [U.N. Security] Council will have to reconsider this. Events of the last two months have just run over [our mission]. The Congolese army needs root and branch reform, but security-sector reform is a long-term project. So how do we deal with the situation in the meantime? Protection is our mission. But if those we are protecting are also involved, it's a very difficult situation...