Word: gdp
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...Like thousands of other Parisians mobbing the stores during the after-Christmas sales, Andriavaloherinaiva is braving not just France's frosty weather but an equally chilly economic climate in his pursuit of a bargain. He is unfazed by the downturn that has led some economists to predict France's GDP growth could be as low as .9% in 2003. "I'm not worried," he says. "I still have the same spending pattern as always." But many government and industry types are plenty worried. Beset by feeble growth and preoccupied with the possibility of war with Iraq, the euro zone...
...December. Should consumer spending tank in Britain, though, the government still has one distinct advantage over its euro-zone neighbors - the ability to spend what it likes without running afoul of Brussels. In 2002, Chancellor Gordon Brown unleashed a raft of spending initiatives that will underwrite GDP growth of almost 2% this year. To listen to economists, there are two things that could help lift Europe out of its doldrums. In the short term, there's a war. Not a protracted, recession-inducing war, but a decisive war that comes and goes soon. Such an event would remove the geopolitical...
...when he was named chairman of the China Securities Regulatory Commission (CSRC). His challenge: to impose order on a stock market that a leading Chinese economist once described as worse than a casino (because "at least casinos have rules"). Shang arrives at a precarious juncture. Even as China's GDP has grown 8% annually, its market has sunk more than 40% since its June 2001 peak. Stock-rigging scandals and lax corporate disclosure have sapped investors' confidence, and Shang must restore their faith. To do so, he will have to fend off government officials who see the market...
...Brasilia. A former factory worker and fiery trade-union leader, "Lula" swept to power in October with 61% of the vote. He has pledged to reduce corruption, improve education and reduce economic misery. (Brazil currently has a 12% inflation rate and debts that account for nearly 61% of its gdp.) Since October, the President-elect has tried to caution the public against having overly high expectations, but a recent poll found that 80% of Brazilians are hopeful his administration will be "good to excellent...
...includes the new members, who are already upset at the relatively paltry j40.4 billion in financial aid they'll receive from the Union up until 2006. They may not welcome the prospect of eventually having to share aid with Turkey, a massive country with a lower per capita gdp than all the new joiners. Still, Turkish Prime Minister Abdullah Gul sees the glass as half-full. "Some politicians think the E.U. is a Christian club," he said. "This summit showed that this opinion isn't correct." Justice and Development Party leader Recep Tayyip Erdogan was widely criticized alongside the Americans...