Word: banking
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...Chinese government officials, because high inflation historically has led to political problems. Rising prices helped to foment massive civil unrest in 1989, and peasants to this day are resentful over harsh measures the central government used in the mid-1990s to rein in inflation, such as a crackdown on bank lending that brought growth to a halt in areas outside major cities. Inflation is not just a domestic concern, either. Because China supplies so much of the world's manufactured goods, higher costs on the mainland tend to show up on store shelves at Wal-Mart and other major retailers...
...debate among economists now is whether another move by China's central bank to raise interest rates - which have already been hiked three times in the past year - will ease growth and inflation. Much depends on the next monthly inflation report, which will indicate whether, as Jun Ma, chief economist for greater China at Deutsche Bank in Hong Kong believes, price rises peaked in July and will now recede. Ma notes that certain key produce prices fell by about 1% in early August, and thus the central bank "doesn't need to overreact...
...There may be a high environmental price to pay as poor nations convert from two wheels to four. John Rogers, a consultant for the Asian Development Bank, estimates the number of cars in India will increase from 6.2 million in 2005 to 41.6 million by 2025. Putting millions of new vehicles on roads will increase pollution and put further strain on overtaxed transportation networks. "We cannot afford this type of congestion," says Anumita Roychowdhury, associate director of the New Delhi-based nongovernmental group Center for Science and Environment. "It's defeating the reason people buy cars: for mobility." Roychowdhury...
...Deposed in a bloodless coup last September, Thaksin has acquired quite the post-power diversion. Last month, he bought Manchester City Football Club for $162 million - mere pocket change compared with the roughly $2 billion in funds Thai authorities have frozen from his family bank accounts. The military junta now controlling Thailand condemned his acquisition of the team - Thai courts have slapped Thaksin, who made his fortune in the telecom business, with corruption and abuse-of-power charges stemming from his time in office. On Tuesday the Thai supreme court issued a warrant for Thaksin's arrest for failing...
...group, the Harvard Society of Arab Students, pointed out the positive results of the proposed boycott, noting that it "has already prompted the presidents of four major Israeli universities to push for Palestinian rights to travel from Gaza to the West Bank to study...