Word: washington
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Dates: during 2000-2009
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...mirage. If Beijing can come through the global crisis without an economic meltdown of its own, its leaders' reputation and confidence will be boosted. An economic model that survives the worst downturn since the Great Depression will have undeniable appeal in the developing world, at a time when the Washington Consensus is thoroughly shot. Beijing, before the crisis, was already rising, its global reach and influence expanding. As the rest of the world falters, that is truer than ever. China is not yet the leader of the global economy. But it's getting there...
...that America will try to contain China's ambitions; some in America think that there is something to fear in a rising China." Part of the difficulty in predicting the future is that China is not the only Asian power with which the U.S. has to deal. For decades, Washington is going to have to play a demanding diplomatic game in which it maintains good relations with China, with India (Secretary of State Hillary Clinton's recent trip there was evidence of the importance the U.S. now attaches to New Delhi), and with its old ally Japan...
...easy. Somehow, U.S. diplomats must help convince all three Asian nations that they can rise together, rather than descend into bitter rivalry. Japan will need special attention; its politics are becoming worryingly sclerotic, and it is beginning to feel overshadowed by China. Tokyo may soon need reassurance that Washington still takes the alliance seriously. But for all the difficulties ahead, the accompanying charts should give a glimmer of hope. The U.S. and the three Asian giants are becoming ever more closely interconnected - and not just economically. We have become familiar with the way in which trade flows between China...
...most surprising result so far might be that Latin America's leftists have abandoned their usual line of accusing Washington of meddling and are lamenting that it hasn't done enough. "Do something, Obama. This is in your hands," Venezuelan firebrand Hugo Chávez groaned on his television show. The Obama Administration argues it has taken action by cutting off military aid to Honduras and revoking the diplomatic visas of several officials. But U.S. conservatives have argued against more punitive steps, saying Zelaya was a menace who had to be taken down. The coup was launched as the leftist leader...
...Washington Home Sales on the Upswing At last, some good news on the housing front. In June, sales of new U.S. one-family homes saw their strongest increase in more than eight years as buyers hurried to take advantage of bargain-basement prices, low interest rates and a federal tax credit for first-time homeowners. Home prices are still dropping, however, with the median June figure of $206,200 down 12% from $234,300 a year earlier. And with a huge backlog of unsold homes, analysts continue to disagree on whether the higher-than-expected increase signals a coming recovery...