Word: walker
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...federal trial over gay marriage has rested, and we won't know who won until U.S. District Judge Vaughn Walker calls the lawyers back to hear closing arguments and issues his ruling. That is likely to take several weeks. But it's already clear that the verdict itself will be only a beginning, as all sides shift their focus from testimony to the real task of convincing federal appellate judges, and ultimately the U.S. Supreme Court, to rule their...
...lead attorney defending Prop 8, former Justice Administration lawyer Charles Cooper, made a similar point in his argument before Walker. "The same-sex marriage is simply too novel an experiment at this stage to allow for any firm conclusions about its long-term effect on traditional marriage and the societal interests," he said...
Which side has done a better job navigating those tests will become a little clearer when Walker issues his ruling, probably by early March. Then the real fight will begin...
...India's edge is due to the different stimulus programs adopted by the two countries to support growth during the downturn. China implemented what Walker calls "the biggest stimulus program in global history." On top of government outlays for new infrastructure and tax breaks, Beijing most significantly counted on massive credit growth to spur the economy. The amount of new loans made in 2009 nearly doubled from the year before to $1.4 trillion - representing almost 30% of GDP. The stimulus plan worked wonders, holding up growth even as China's exports dropped...
...China. India's confident consumer didn't let the economy down. Passenger car sales in India in December jumped 40% from a year earlier. "What we see [in India] is a fundamental domestic demand story that doesn't stall in the time of a global downturn," says Asianomics' Walker. (See pictures of India's "slumdog" entrepreneurs...