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...John Malkovich, Human Nature, Confessions of a Dangerous Mind, Adaptation and Eternal Sunshine of the Spotless Mind. The typical film scribe making his move to the director's chair would pick a modest project, one that doesn't tax his tyro status. But Kaufman's first work as a total auteur is his most daunting project yet: a portrait of a creative mind in artistic and emotional crisis, painted as a vast mural that encompasses 30-plus years, slips from mundane reality into nightmare fantasy, and is set (not counting side trips to Germany) in two New York State river...
...even when growing at a double-digit rate, China's economy is not yet large enough by itself to keep the global economy surging. The country accounts for only about 5% of total world GDP; the U.S. is responsible for 28%. "China's strength can help," says UBS's Wang, "but it's not enough to save the world." China may be lucky just to save itself...
...American consumers had become more addicted to debt than Wall Street was. Total household debt at the end of last year was $13.8 trillion, up 20% since 2005. At the same time, the household savings rate ticked down close to zero; the rocket's engine was running on empty...
...Japan had been destroyed. Britain was tired out; France shamed; Russia bled white. In China war would continue for another four years. Of the industrial democracies, only the U.S., Canada and Australia had been spared misery in their homeland. The U.S. economy accounted for nearly a half of total world output in 1945, a proportion that it has never approached since. Crucially, the U.S. defined what it was to be modern. The U.S. was big shouldered and handsome, the U.S. wore nylons and lipstick, the U.S. enjoyed a level of prosperity of which others could only dream. In Manhattan...
...investment from around the world. The big U.S. banks made London their international hub, and the major banks of continental Europe moved much of their trading and investment-banking operations there. About 70% of international bonds, one-third of the world's foreign exchange and almost half the total volume of international equities are traded in London--more even than in New York City, its only remaining rival as the world's financial capital. Hedge funds piled into Mayfair on the heels of private-equity players. Any self-respecting Russian oligarch has a Knightsbridge mansion, sends his kids...