Word: gdp
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WILLIAM BAUMOL: There is a very clear possibility that the common man and woman's view is right: that [economic] catch-up in China may lead to a lower level and rate of growth of GDP per capita in the U.S. I am not advocating tariffs. We are so much richer than China that it may be desirable for us to make a modest sacrifice to raise their standards of living. But better still is for us to take measures that will be advantageous both to China and to us. It is obscene for us to ignore the effects...
...political element in Indonesia can best be described with a modified Clintonism: "It's the stupid economy." Of all the countries devastated by the 1997 Asian financial crisis, Indonesia is the only one that has yet to fully recover. Over the past five years, Indonesia's gross domestic product (GDP) has on average grown 3.4% annually compared with 6.5% for all of East Asia's developing countries. More than half of the population still lives on $2 a day or less. In recent years, the plight of many has worsened. Morgan Stanley estimates that GDP per capita has decreased...
...country isn't returning to the Dark Ages?GDP this year is expected to jump a healthy 5%, the fastest pace since the economic crisis, according to Goldman Sachs?but it is moving in the wrong direction in many sectors. Even as global commodity prices spike, Indonesia's valuable natural resources, including natural gas and minerals, remain untapped because of doubts about the legal system and worries over security. Over the past two years, more than 20% of Indonesia's shoe manufacturers have shut down. "The country has been deindustrializing for several years," says Hans Vriens, managing director...
...sign that it too believes the U.S. economy is rebounding. - By Peter Gumbel Hiding The Red Ink The E.U. threatened Greece with legal action for underreporting its budget deficit between 2000 and 2003. Revised data put the deficit for the period above the euro-zone ceiling of 3% of GDP. Meanwhile, France unveiled its 2005 budget aimed at bringing its own deficit under the limit for the first time since...
...first indications of a national turnaround are starting to show up in the numbers. The German Institute for Economic Research in Berlin in July revised its GDP growth estimate from 1.4% to 1.8% for this year and from 1.8% to 2.1% for next year. The Germans got a boost as economies in the U.S. and Asia began to grow again, and also from the run-up to E.U. enlargement, as exports to new members in Eastern Europe surged. "Germany remains an export machine that keeps running and running," says Holger Schmieding, an economist at Bank of America. "Despite the strong...