Word: gdp
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...cuts to rein in the U.S.'s massive borrowing needs. The federal budget deficit tops $400 billion, and tallying all forms of money flowing in and out of the nation, the country's total accounts deficit will come to about $665 billion this year, or a record 5.7% of GDP. President George W. Bush has said he wants to cut that deficit. Again, few believe he will take measurable steps until he has run out of options, because his plans for private Social Security accounts and making tax cuts permanent would require money the government doesn't have...
...free-trade zone for ebusinesses. Some 5 million tourists a year stream to Dubai's beach resorts, anchored by the superluxe Burj al Arab. The sheik's latest projects are a series of man-made islands featuring luxury hotels, and purportedly the world's tallest building. Dubai's GDP has rocketed from $8 billion to $20 billion since 1995. Says Osama Gargash, senior manager of Emirates Islamic Bank: "Sheik Mohammed doesn't have the word failure in his dictionary." --By Scott MacLeod/Cairo. With reporting by Tanya Goudsouzian/Dubai
After nearly two years of stubborn optimism, Japan's economic recovery seems to be skidding to a halt. Last week's government figures showed that the country only narrowly avoided a return to recession?defined as two consecutive quarters of decline in gross domestic product?with 0.1% gdp growth in the third quarter following a 0.1% contraction in the second. "We are entering a slow patch, and there is no obvious exit," says Peter Morgan, chief economist at HSBC Securities in Tokyo...
...which students engage. Harvard students act as older siblings to local teens, spend time with kids affected by cerebral palsy, hold summer camps for local kids, and help run a local homeless shelter. Investments of these sorts, while perhaps not directly reflected in the city’s GDP, cannot be overlooked as forms of indispensable contributions to the community...
Unfortunately, the relationship between the council, the student body, the administration and money is completely indecipherable. Certainly we (the institutional we) have money, and we (the students) like money a lot — the Crimson proudly compared our twenty-something billion dollar endowment to the Gross Domestic Product (GDP) of Haiti (which it dwarfs. Actually, according to the Central Intelligence Agency’s World Factbook our endowment sits comfortably between the GDPs’ of Afghanistan and Jordan. But who’s counting, really?). But the council campaign issues at hand...