Word: third world
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Seven years ago, Paul Harding was just starting out as an Expos preceptor. At nights he would teach fiction writing at the Harvard Extension School, then go home and help take care of his newborn son. “Once I had kids, I realized how much free time I...
...future of the climate: "With the marked increase in temperature changes, very important alterations will take place in nature. Trees will grow faster and will become more fragile... Much more serious: many more coastlines could become uninhabitable. Seven of the worlds biggest cities are ports, and a third of the world's population lives on a coastline... Eco-exiles will become ten times more numerous...
...world. They're too busy saving for a rainy day. Beijing realizes that among consumers "household savings are high (and their consumption low) because of structural factors" says Roubini in his report, citing such factors as the lack of adequate health care and unemployment benefits, poor rural infrastructure and public services, lack of a proper social security system, and underdeveloped credit markets for mortgage and consumer finance. These all conspire to place an almost insurmountable drag on the government's efforts to get its consumers to open their wallets. Domestic consumption accounts for about one-third of China...
...whom you believe, the Chinese economy is bottoming out or even beginning to grow again. But if there's consensus that things are looking up for China in the short term, there's little agreement on two crucial questions that inevitably accompany these signs of life in the world's third-largest economy: will anyone but Chinese benefit from Beijing's apparent success in heading off the worst effects of the economic crisis? And, if the rebound is real, will it last...
...Some aspects of China's glimmers of economic turnaround do seem as though they might offer hope to the country's trading partners. Take car sales, which rose in March for the third straight month, once again making China the largest market for automobiles in the world, ahead of the U.S. Those statistics, you'd think, would bring a smile to the faces of executives at beleaguered American carmaker GM, whose success in China in recent years has been about the only bright spot in its funereal performance...