Word: gdp
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...With the government and the central bank coordinating more closely, the economy slowly revived. It's now in full swing, enjoying one of its longest postwar expansions. GDP grew 3.2% in the last fiscal year and the Nikkei stock index is up 66% in three years. Spending is up, wages are up, even property prices are rising again, and unemployment is at an eight-year low. With conditions improving, Fukui has made no secret of his desire to end the anomalous zero-interest era, saying he favors acting early and in small steps. In March, the BOJ declared...
...Kiwi workers complain that Costello's counterpart Michael Cullen is being a scrooge on fiscal policy, stacking up Budget surpluses when there's a good case for tax relief. But Cullen has no room to move. A current account deficit heading toward a "Banana republic" rate of 10% of gdp puts enormous pressure on the Kiwi dollar. A place that boasts the lowest jobless rate among rich nations can neither hold on to its best people nor save enough to fund its lifestyle. Sometimes the lights go out in Auckland...
...placed their bets on China as a manufacturing center. Although exports of manufactured goods from India grew 20% to approximately $70 billion in its last fiscal year, that's just one-tenth of the $700 billion China exported in 2005. Manufacturing accounts for only about 16% of India's GDP. In China, its share is more than twice as large...
...growth Prime Minister, Manmohan Singh, has said he dreams that Bombay will someday make people "forget Shanghai"--China's financial capital, whose modern gleam is a reminder of the gap between India and its eastern rival. Right now it's not much of a contest. India's GDP (gross domestic product) growth was 8.4% last year vs. 10% for China, while foreign investment in India was an estimated $8.4 billion, compared with $72.4 billion in China...
...city. Samant says it's why, unlike in New Orleans, the people didn't disintegrate with their city after the floods. Hope brought Bombay together and keeps it together. "Look at Dharavi," he says of the city's notorious slum, the biggest in Asia. "The place has a GDP of $1 billion a year. Dharavi makes you realize everyone has a stake in keeping Bombay going." One day all those millions of expectations will have to be satisfied. But for now, the City of Dreams is living up to its name...