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...which is the main reason some French executives continue to fear that the current global recession could morph into something more serious: a 1930s-style meltdown capable of shaking the entire economic structure to its foundations. Were that to happen, chain-reaction bankruptcies of companies could force the French state to step in and nationalize industries, dismantling the boardroom power structure. (See pictures of President Nicolas Sarkozy celebrating Bastille...
When Michigan's lieutenant governor, John Cherry, announced earlier this month that he wouldn't seek the state's top elected post, Democrats here and across the country sighed in relief. Though Cherry was the ostensible front runner to succeed Jennifer Granholm, a fellow Democrat, he couldn't muster enough interest, or money, to wage a credible campaign. Cherry's departure effectively opens what's expected to be a fierce primary battle between two ambitious, business-minded Democrats for the task of keeping Michigan's governor's seat in the party's hands...
...past year, authorities have detained activists for everything from wearing anti-Chinese t-shirts to hanging banners calling for multiparty elections. In October, nine people involved in pro-democracy efforts were sentenced to prison terms for spreading propaganda against the state. Hanoi has also been particularly prickly over accusations that officials have caved in to pressure from China, claiming that they are on Beijing's payroll in exchange for unfettered access to the country's natural resources. Authorities detained several bloggers and journalists in recent months who openly criticized Vietnam for allowing China to set up large bauxite mining operations...
...government intervention. In late December, Premier Wen Jiabao promised action to help keep housing prices in check. "As the property market is recovering rapidly this year, housing prices in some cities are rising too fast, which deserves the great attention of the central government," he told Xinhua, the state-run news service. During Thursday's press conference announcing the 2009 GDP numbers, Ma too acknowledged that "the price of real estate in some cities is growing too fast...
...curb property speculation, Beijing has reintroduced a sales tax on residences resold within five years of their purchase. Earlier this month the State Council introduced a rule that requires a 40% down payment on the purchase of a second home, and on Jan. 12, China's central bank raised the reserve requirement for commercial lenders in an effort to control the torrid growth of credit after the value of new loans more than doubled last year. (See pictures of the best-selling cars in China...