Word: sectoral
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Turkey established a textiles cluster to try to fend off lower-cost rivals. Jordan has positioned itself a regional center for medical services. Singapore is making a play for biotechnology. Of course, there is always a risk in spending massive amounts of focus and money on one sector since so many factors have to align for economic development to work. "Is Singapore really where the top scientists in the world want to be working?" asks Carana Corp.'s Tugendhat. "Just because you build a great campus doesn't mean they're going to come...
...current tussle, which halted train travel throughout France and paralyzed Paris in recent days, stems from government plans to raise the retirement age for public-sector employees such as rail and utility workers. That's something successive governments have attempted repeatedly since the '80s, only to be thwarted by union-led opposition. Sarkozy's determination to storm the one bastion labor has successfully defended from creeping reform reflects his electoral promise to "rupture" with France's musty status quo. By launching that assault just six months into his five-year term, Sarkozy grasps how vital a victory in reforming public...
...that the recent strikes have caused - and the prospect that they will drag on - polls show Sarkozy holding steady with a 55% approval rating. Yet a further test of will comes on Nov. 20, when hundreds of thousands of state employees are scheduled to protest over 22,000 public-sector job cuts slated for 2008. And more antireform demonstrations will follow. But Sarkozy can draw strength from the immensity of the stakes: he knows that caving in now could mean surrendering the rest of his presidency...
Feats like a $100 billion foreign-reserve cache have helped lower the country's risk premium, as measured by JPMorgan Bank, to 175, vs. 1445 when Lula took office. The manufacturing sector, including world-class regional jetmaker Embraer, now represents a quarter of GDP, and Brazilians feel more consumer confidence than perhaps at any other time in their history. "They now have the incentive to buy vehicles through long-term-financing programs," gushes Jackson Schneider, head of the National Association of Automotive Vehicle Manufacturers, whose members have added 27,000 direct jobs in the past three years. "They can more...
...Meanwhile, Bratton decamped to the private sector and eventually became chief of police for Los Angeles. "The reason they split wasn't that Bill had failed to do the job," says Walinsky. "Strange as it may sound, even a city as big as New York wasn't big enough for the two of them...