Word: worldlys
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...October, 54% of Chinese residents reported in a China Daily survey that they would not get the H1N1 vaccine because of concerns about the shot's safety. That prompted the director of the World Health Organization's Beijing office, Dr. Michael O'Leary, to tell the newspaper, "The H1N1 vaccine is one of the safest vaccines being used. When it's available to me, I would not hesitate to get the vaccine developed and produced by China." (Read "H1N1: Hitting the Young, Riskier...
...words should be music to the world's ears. As debt-laden consumers in the U.S. retrench, increasingly wealthy Chinese consumers could become one of the most important sources of growth for the global economy. Shoppers in China are opening their newly stuffed wallets wider than ever. Passenger car sales surged 76% in October from a year earlier, while overall retail sales jumped 16.2%. Such spending has contributed to China's robust recovery from the global economic crisis. Gross domestic product grew a hefty 8.9% in the third quarter from a year earlier. (See TIME's photoessay "The Making...
Such efforts will take years to bear fruit, however time the global economy may not be able to afford. Economists agree that China and the United States must alleviate the imbalances that contributed to the current crisis if the world economy is to find renewed, and healthier, growth. China saves too much and spends too little, leading to giant surpluses and hard currency reserves, while the U.S. saves too little and spends too much, creating giant deficits and debt. Unless China can transform its citizens from savers to spenders, the reform of the entire world economic system could suffer...
...financial crisis, but that hasn't stopped him from spending. With China's future so bright, he doesn't worry too much about saving for the future. "Judging from my job, my life, I think everything will become better and better," Lu says. And maybe for the entire world economy as well...
...large community of immigrant Filipinos buoyed by hundreds of others who flew in from the Philippines to cheer on their champ. The city had been abuzz with Pacquiao's presence the week before the fight. Pacman, as he is called by his fans, is a crossover hit. In the world's capital of gambling, almost everyone, from cab drivers to bartenders to street people, was talking about the big fight - and why Pacquiao was going to take it. "I know I'm Puerto Rican," said a woman on the plane over from New York, "but I love the Pacman...