Word: stewardship
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...climb out of its economic morass. The Taipei Stock Exchange is down 40% since Chen was elected, and joblessness is at a 23-year high at 3.9%. The Taiwanese for decades forgave the KMT for a multitude of sins?even the imposition of martial law?as long as its stewardship kept economic growth pumping away. Chen cannot expect the same degree of patience in a floundering economy. He needs the people on his side. He needs a legislative victory...
...past decade or so, a debate has raged in Washington as to whether it is in our nation’s best interests to treat China as a strategic partner or as a competitor. Under President Clinton’s stewardship, China was embraced as a partner. The administration favored and helped usher through Congress Most Favored Nation trading status for China, took great pains to deal even handedly with regard to Taiwan, apologized profusely after accidentally bombing the Chinese embassy in Belgrade and put off a decision on a limited missile defense in part out of deference...
While there are important differences in the two economies' slumps, the parallels are instructive. The strong-yen policy of the 1985 Plaza accord sucked money into the Japanese stock market, which soared 300% from 1985 to 1990. Treasury Secretary Robert Rubin's strong-dollar stewardship did much the same for the U.S. stock market in the 1990s. The boom was characterized in Japan by inflated land prices, in the U.S. by the NASDAQ. Japan in its heyday, and the U.S. in its later boom, both experienced huge boosts in worker productivity, high growth and low inflation. Japan's manufacturing...
...food-safety scares-and the huge cost of "emergency measures" to cope with them-has prompted calls for a greener and more rational cap. Renate Kunast, Germany's new Agriculture Minister, advocates dropping price supports and revamping subsidies to encourage small-scale organic farming, which emphasizes eco-friendly land stewardship, animal welfare and use of natural produce. Other politicians, ranging from Blair to German Chancellor Gerhard Schroder, have called for a similar reorientation of agriculture policies...
Despite Wilson's impressive stewardship of the team, he is considered somewhat of a second-class coach. While putting in full-time hours, he is compensated as a part-time coach, and his one and only assitant coach joined the team on a volunteer basis...