Word: sectoral
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...Japanese public, newly confident of their nation's place in the world but worried about economic concerns back home, deserves better than an old guard. Abe's predecessor Junichiro Koizumi, himself heir to a minor political dynasty, created the impression of trimming family political ties by installing private-sector civilians in key leadership posts. But Abe's most recent Cabinet re-embraced the political nobility - and neither Fukuda nor Aso can be counted on to do anything very different...
...bank that lasted several days, savers took back as much as $6 billion of their money (about 12.5% of the bank's total savings deposits) and helped sink Northern Rock's stock by 56%. As worries spread across the sector, other banks' shares dropped by as much as a third. And every day, the lines outside the branches seemed to grow rather than shrink...
Eventually, those markets stopped working so well. The collapse of a U.S. subprime mortgage sector built on lending to home buyers with poor credit histories has given global credit markets the jitters. With that risky debt spliced, repackaged and sold around the world, uncertainty over just who was exposed to the debt - and to what extent - meant that rather than lending around their cash, banks have taken to hoarding...
...ACHAP, the Gates Foundation, has ruffled many NGO feathers by imposing the same standards of accountability and transparency used by business on projects it funds - and cutting off those who don't comply. "There's been a paradigm shift in how people view the potential contribution of the private sector," says Dr. Nick Hellman, who made an inspection of ACHAP in August on behalf of the Gates Foundation. "They have the knowledge and the experience. Most drug companies have specific programs geared toward global health issues. If you're trying to distribute drugs...
...business." Nevertheless, Sturchio contends that Merck's primary motivation for its CSR work is "because it's the right thing to do. It makes our employees proud ... People always underestimate the amount of altruism among those who work for companies." Adds Hellman: "A lot of people in the private sector are genuinely concerned about issues like AIDS and TB. And our experience is that this is not a Trojan horse [for their corporate interests]. There's little money in it." In the end, says Sturchio, "Even if people disagree on the means, we can all agree...