Word: gdp
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...with a little global competition. For years, their share of the national heath-care bill has grown at a rate far faster than inflation, and today they gobble up a third of all medical expenditures. At current rates, the U.S. will be spending $1 of every $5 of its GDP on health care by 2015, yet more than 1 in 4 workers will be uninsured. The ingrained inefficiency of most hospitals doesn't help. "A lot of them still don't know how to schedule their operating rooms efficiently," says Reinhardt. "They've never had to. They always get paid...
...coast in the Gulf of Guinea have made the country and oil majors such as Chevron, Agip, ExxonMobil and Shell hundreds of billions of dollars. Nigeria currently earns more than $3 billion a month from oil - which accounts for some 95% of its export earnings and 40% of its gdp. But the vast majority of the people of the Delta still live in severe and visible poverty. One of the first activists to speak out against this imbalance was businessman, TV writer and activist Ken Saro-Wiwa, from the Ogoni region, east of Nigeria's oil capital Port Harcourt. Saro...
...economy, what's more critical is that Katrina disrupted a vital node in the country's transport network. You name the commodity--coffee, fertilizer, lumber, steel, wheat--it ships through the Gulf's ports, rails and riverways. All told, Katrina knocked out a region that contributes $130 billion to GDP, roughly 1% of the national total, according to Economy.com Risk Management Solutions, a leading risk-assessment firm based in Newark, Calif., estimates that damages will run up to $100 billion. Insurance companies are on the hook for some $25 billion. Our guide to the fallout...
...most part, yes. In the near term, economists say, Katrina may shave half a point off GDP growth over the next couple of quarters, largely because everyone from homeowners to truckers to airlines will be paying more for energy. But the U.S. economy can withstand some big blows. The nation was emerging from recession on 9/11, and that event did not ruin the recovery (thanks to billions in tax breaks). A slowdown may give the Fed reason to suspend its interest-rate hikes, a prospect that has already sparked a bond-market rally. While Katrina's impact on the Gulf...
...boom times last? Russia has set aside a portion of its oil revenues in a so-called stabilization fund that tops $55 billion, and Moscow is running a budget surplus equal to 7% of GDP. But economists are worried that the Kremlin hasn't used the fat years to cut back on the remnants of Soviet-era bureaucracy, modernize Russian industry or improve the overall investment climate. "Russia will continue to be hooked on oil revenue for the foreseeable future," says Ivan Szegvari, a Russian-economy specialist at the European Bank for Reconstruction and Development in London. Retailing is booming...