Word: consumptionism
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The stimulus package includes spending to strengthen social safety nets and boost domestic consumption, such as subsidies for rural consumers to buy selected electronic goods. In an echo of America's wildly popular cash-for-clunkers car program, a new initiative grants consumers in four provinces and five cities 10...
The Ghost has been in the works for several years, well before the global economic meltdown. But the timing of the car's rollout this fall couldn't be better for the automaker. Although Rolls-Royce had a banner year in 2008, selling a record 1,212 Phantoms worldwide, the...
Whatever your thoughts on the causes of climate change, the irreducible fact is that enough people around the world are sold on the threat of global warming, as well the long term problems from the air pollution, dwindling supply and ever-increasing costs of fossil fuels, that trillions of dollars...
To analysts still skeptical of China's recovery story, major questions hung over the announcement today. One concerns long-standing doubts about the reliability of government economic data - what one U.S. hedge-fund manager calls "the Beijing fudge factor." In the first quarter of this year, Beijing reported 6.1% GDP...
The bigger issue that divides economists is whether China's growth spurt is sustainable. Goldman Sachs and several other major investment banks are increasing their China growth forecasts for the rest of this year and into 2010. Strong retail sales and household-survey data show that consumption is contributing to...