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...enormous,” but said he believes that the savings rate will rise. A U.N. economic report released on Wednesday warned that as the U.S. trade and budget deficits continue to widen, “confidence in the dollar as the world’s main reserve currency could erode rapidly.” Gernot Doppelhofer, a university lecturer and fellow of Trinity College at the University of Cambridge, wrote in an e-mail that he believes that the current account will eventually adjust. “Differences in productivity growth affect the real exchange rate in the long...
...immediate cause of the unrest is one of the few things the women have ever agreed on. After Bangladesh returned to democracy in 1991 following years of military rule, the two main political parties agreed that the incumbent party would step down a couple of months before every election and allow a neutral caretaker government to run the country and oversee the election commission until a new government was elected and sworn in. The system is an admission of the coddling Bangladesh's democracy needs just to survive but, with some hiccups, it had worked. Until...
...Inspector O's story is told in a series of vivid flashbacks, related to an Irish intelligence officer during a cat-and-mouse encounter in Prague. Their vignettes make a compelling side narrative to the main tale, but the best feature of the book is how it builds, brick by dirty gray brick, a portrait of North Korean society that feels far more real than any debriefing. Church's Pyongyang is caught in the familiar time warp of the North's long-soured revolution: it's a place of deserted roads, decaying buildings and rusting trains that creak...
...riots, in which hundreds of people were killed. Since then, an affirmative-action policy for Malays has redistributed the country's wealth away from Chinese and Indian pockets, in an effort to combat the economic disparities blamed for sparking the '69 upheaval. But, if anything, the country's three main ethnic groups now live even further apart than they did when blood flowed on Malaysian streets. Segregation starts early: Only 6% of Malaysian Chinese parents today send their kids to Malay-dominated government elementary schools, compared with more than 50% two decades ago. The trend is only slightly less stark...
...five years younger than Federer, went off the boil in the second half of last year and hasn't started this year in sensational touch; he also withdrew with a groin strain from last week's warm-up event in Sydney. But Federer would still regard him as the main obstacle to a third Australian Open title...