Word: sectoral
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...Chinese officials argue that the mainland needs to fix major domestic financial problems, such as a banking sector riddled with bad loans, before tackling currency reform. In any event, President Bush will be able to push China only so hard. America is becoming more and more dependent on Asia for its own growth. U.S. companies, from General Motors to Motorola to McDonald's, are banking on China as a substantial source of future profits. Cheap imports of toys and electronics from China fill stores in the U.S. and help keep American consumers spending and supporting their own economy...
...Under Bush, outsourcing should continue to fatten American corporate profits, but it also threatens to leach millions of jobs away from the U.S. service sector. The challenge for Bush is to ensure that American workers receive the higher education and vocational training they need, so that it's still worth paying them a premium. If he fails to do so, Asia will benefit...
...think there's too little federal control over education? Vote Bush. Want to expand health-care coverage primarily through the private sector? Vote Kerry...
...other companies that are inclined to outsource jobs to hire new employees in the U.S. rather than abroad. He would give a credit on payroll taxes, varying according to company size and number of hires. He says he would expand an assistance program intended for manufacturing workers to service-sector employees whose jobs have moved abroad. Kerry wants to increase the minimum wage to $7 an hour...
Garriques, 40, has a simple mantra for business success: "Quality, quality, quality." As the new chief of Motorola's personal-communications sector, which sells cell phones and personal two-way radios, Garriques will be in charge of what is by far the company's largest division, accounting for 40% of Motorola's annual revenue of $27 billion. Although Motorola's outlook is positive, industry leader Nokia is aggressively cutting prices. Garriques anticipates smooth sailing, but he will need that mantra...