Word: sectoral
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...While the country's corporate sector is in better shape than it was in the 1990s after an epic property bubble burst, some things never change. Unlike in the 1990s, a lack of proactive government policy threatens to make the situation worse for ordinary Japanese. Contrast the Japanese government's inaction in the face of recession with the steps the U.S. has taken in the past nine months, among them a series of interest-rate cuts and tax rebates. No wonder the Japanese public exhibits so little confidence in the administration of Yasuo Fukuda, whose approval ratings bottomed...
...appointment to the McCain ticket, have been sending out releases attacking the former governor as "one of President Bush's biggest defenders" who is out of touch with working people. On Monday, Obama campaign manager David Plouffe called Romney a "job killer" for his work in the private sector as a corporate manager. Romney responded to the charge by claiming that he had created far more jobs than he ever eliminated...
...British Land, the U.K.'s second-biggest property developer, announced that construction of the building - already dubbed "The Cheesegrater", in honor of Rogers's wedge-shaped design - would likely be delayed, pushing completion back a year to 2012. The firm's motive? With the financial services sector trimming costs amid turmoil in the credit markets, both the demand and rental values for City offices are dwindling. British Land - itself hit by a $1.1 billion loss for the three months to July as the value of its portfolio tumbled - reckons it'll score lower construction costs and higher rents...
Corruption in Afghanistan's justice sector is often shrugged off by international donors who argue that security and development must take a higher priority. Some take it as the price of doing business, saying that rich countries can't expect Afghanistan to meet Western standards of transparency. Indeed, U.S. Secretary of Defense Robert Gates has just endorsed a plan that would give $20 billion to build up Afghanistan's military and police forces. But what is the use of improving the police sector when the judicial system is unable to successfully prosecute criminals? A few countries are beginning to address...
...part to a falloff in demand from the ailing U.S., China's export growth is slowing sharply. Manufacturing contracted in July for the first time since at least 2005, according to China's Purchasing Managers' Index, resulting in reduced hiring by the sector. Meanwhile, a 50% drop in China's stock markets from their peak last October is creating a reverse wealth effect, some economists believe, leading both consumers and companies to be more cautious about their outlays. Tao Wang, an economist with Bank of America in Beijing, says China's GDP growth will slow to 10% this year, down...