Word: sectoral
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...depth and duration. A mild, relatively short U.S. downturn might not be entirely a bad thing in the country that's become the world's second growth engine: China. Most economists believe inflation remains China's biggest risk going forward, and a slow down in the export sector - now unavoidable - could actually do the People's Bank of China's work for it: cool the economy a bit without the need for another rise in interest rates. (The PBOC raised rates six times...
...government's tacit approval of the CNAC-China Eastern alliance marks a potentially significant policy shift by the Civil Aviation Administration of China (CAAC), the country's aviation regulator. Just as Beijing has opened up its backward banking sector to overseas investment in order to tap the expertise of foreign financiers, in recent years the CAAC has been allowing foreign airlines to take small stakes in domestic carriers, hoping that outside partners could improve airline management. Air China, for example, has a cross-shareholding agreement with Hong Kong-based Cathay Pacific, and in 2005 American financier George Soros invested...
...Florida, McCain will have to defend his precarious frontrunner standing on several fronts. He must argue that despite his decades in Washington, he is an agent of change. He must convince voters increasingly worried about the economy that Romney's private sector success is not as important as his record of government experience. (And Fred Thompson may not hang in long enough to be spoiler among conservative Florida Republicans.) Even more dramatically, McCain must make the case to moderates and independents that he, not Giuliani, best represents their interests. "My guess is that we'll split the moderates with Giuliani...
...Individuals and governments want a strong pharmaceuticals sector that delivers better products and value for money," Kroes said. "But if innovative products are not being produced, and cheaper generic alternatives to existing products are in some cases being delayed, then we need to find out why and, if necessary, take action...
...Unlike in cartel cases, the drug sector raids were prompted by a general sense that the E.U. market is not working rather than by specific indications of illegal activity. That itself is an indication that the Commission is taking an ever bolder role in regulation, and is not afraid to go up against some of the biggest beasts in the corporate world...