Word: particularizes
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...Called to Account, in which Tony Blair is put on trial for "aggression against Iraq." But the latest offering, Baghdad Wedding, written by Iraq expatriate Hassan Abdulrazzak, doesn't focus on political impact of the war. It looks at what has happened to Iraq's middle classes, in particular those who have fled to the safety of western cities like London, Paris and New York...
...surprisingly, these huge dollar holdings are a source of considerable anxiety for capital markets. Any hint that Asian countries in general-and China in particular-are going to sell their dollars causes the greenback to sink and sends treasury rates higher. There is evidence that governments are worried about the size of their caches. Foreign holdings of dollar-based assets doubled from $1 trillion to $2 trillion from the end of 2001 through to the spring of 2005, but since have increased less than 10%. China, which must continue to buy dollar assets if it wishes to keep its currency...
...free traders. "In the globalized world of today, there is no risk if America, Europe and Japan stop producing T shirts or television sets," says Jean-Pierre Lehmann, professor of international political economy at IMD, the international business school in Lausanne, Switzerland. "My concern is that the U.S. in particular is far too overdependent on China, not just for goods but also for finance. So there is nothing wrong with the U.S. sourcing its consumables outside the U.S., but it is dangerous that so much of it should be coming from the same source...
...readying for a storm of competition, America in particular must return to basics. The most critical building block is education. Despite years of hand-wringing and higher spending than that of other industrialized nations, U.S. schools threaten to leave the nation less competitive in global labor markets. A barrage of test scores shows American students are already far behind the world's academic leaders. U.S. universities are still considered the best in the world. But compared with their international peers, American eighth graders in 2003 ranked 14th in math-just beating out Lithuania's kids-and ninth in the world...
...Sang is engrossed in the more practical matter of finishing his building. Before he rushes off, I ask if he'll break out the champagne when it becomes the world's tallest skyscraper. "I don't think there will be anything in particular; it'll be another day in the office," he says. And then he returns to the job of building this dizzying monument to the rise of Dubai...