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...despite these steps, the mainland's growth does not appear to be slowing appreciably. Investment bank Lehman Brothers expects China's GDP to expand 9% this year and 8% in 2009. "I think they are striking a very delicate balance between controlling inflation and supporting growth," says Qing Wang, chief China economist for Morgan Stanley, which projects even higher growth in China - 10% this year...
...Zimbabwe's Torment Readers may wonder how it is that Zimbabwean President Robert Mugabe has dragged his country into economic collapse and abject poverty, yet millions of Zimbabweans still support him [June 30]. This is because in Africa, tribal feeling remains powerful. The chief of your tribe can do no wrong, and African culture demands that he be supported at all costs. Western nations are justifiably horrified by what is happening in Zimbabwe, but they should bear in mind that the Mugabe regime came to power with their support. Watch South Africa: Its economy and social framework are rapidly following...
...mortgages. The fear is that mass foreclosures could accelerate price declines, bringing on a cascade of additional foreclosures and economic trouble in their wake. "I get this sense in an increasing number of markets around the country that this death spiral is developing," says Mark Zandi, chief economist of Moody's Economy.com and an outspoken advocate of doing more to combat foreclosures...
...monster have gotten into a freshwater lagoon? Tuggerah Lake is connected to the Pacific Ocean through a tidal channel called The Entrance. It is 12 km long and 4 km. wide, with an average depth of 6-7 m, roughly 20 feet. "It's not a big lake," said Chief Inspector Winmill, "but it's a bloody big shark - if it's true...
...said it was bigger than his boat," reported local Chief Inspector Tim Winmill. "He's got an 18-ft. boat and he said it would have been 21 ft. (6.5 m.)." Winmill said police had no reason to doubt the fisherman's story: he was known to local authorities as a responsible member of the industry. As a result, police have issued a warning to anyone using Tuggerah and two smaller, connected lakes to take extreme care. Though the water at this time of year is numbingly cold, it's school holidays in New South Wales until...