Word: steels
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Work on London's main Olympic site is progressing well. The 600-acre former industrial zone in east London that will become the focal point of the 2012 event has been transformed into Europe's biggest construction site. Steel for shoring up the massive new stadium's seating terraces is being installed. And work on the structure that will eventually support its roof is underway. But the progress masks concerns that the economic crisis will hit the world's biggest sporting event. As one member of the International Olympic Committee (IOC) remarked on a recent visit to London, Britain...
...China over the past seven months has been at the receiving end of adverse trade measures by other major trading partners. In December, the E.U. imposed anti-dumping duties on Chinese screws and bolts. In June, the U.S. imposed anti-dumping duties on four Chinese product categories including steel pipes, a move that prompted China to lodge a complaint with the WTO. But according to Vineet Aneja, partner at Delhi-based corporate law firm FoxMandal Little, India may have difficulty defending its case in any WTO action. "The WTO may not uphold the ban since not enough reason has been...
Antipolo street winds through Manila's Sampaloc district, right along a railway line. In his 1962 novel The Pretenders, foremost contemporary Filipino novelist F. Sionil José describes the street as one of "intractable damnation," and it's not hard to see why. Shanties still line the same steel tracks on which José's tortured antihero Antonio Samson kills himself, after learning that his vapid high-society wife is having an affair. On a recent afternoon, naked boys skipped rope near piles of rotting trash. Meals bubbled over open fires, just feet from railroad ballast...
...American" clause in the President's economic stimulus package states that only U.S. iron, steel and manufactured goods can be used in construction projects funded by the bill. The package has already been approved by the House of Representatives, and the Senate is currently debating an $888 billion version of the bill...
...provision would also cost far more jobs than it created, according to a study by the Peterson Institute for International Economics in Washington. Although it focuses on iron and steel provisions, the "buy American" clause would save just 1,000 U.S. jobs because steel is very capital intensive, the study's authors Gary Hufbauer and Jeffrey Schott say. "In the giant U.S. economy, with a labor force of roughly 140 million people, 1,000 jobs or less is a very small number," they wrote. That number, they contend, would be exceeded by the jobs that would then be lost...