Word: poorly
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...have instead in the long term led to unemployment rates in most of Europe that are twice as high as those in the U.S. Engaging in protectionism in response to the rising fortunes of India and China would leave most of the world's people from rich countries and poor countries alike worse off in the long run. Not only does protectionism tend to backfire-to eventually cost jobs rather than to save them-but the global economy has already grown so interconnected that bashing China and making a scapegoat out of India could wind up hurting the developed economies...
...than those in Continental Europe and are much higher than Japanese rates. Similarly, U.S. stocks look better by comparison. Measured in euros or pounds, the S&P 500 index is up less than 50% from its October 2002 lows, while European markets have more than doubled. Plus, Standard and Poor's recently reported that 44.2% of the revenues of companies in the S&P 500 index were generated abroad, up from 32% five years ago. With almost half of their revenues being earned in foreign currencies, these firms make tempting purchases, or even takeover targets, for foreign-based investors...
...Just when modern technology has dramatically speeded up the connections between East and West, between developing countries and the rich countries of the world, two nations with more than a billion people each have suddenly embraced capitalism and rejoined the world economy. Hundreds of millions of poor people have been lifted from desperate poverty as a result, and the West should not try to stop the rise of India and China. But the powerful, swift changes in the global economy will also trigger strong repercussions in the West. So nations such as the U.S. need to strive to create...
...have been able to speak to the crowd even if he wanted to. He was born with a severe cleft palate; when he tried to talk he could not make himself understood, so after a while he stopped trying. He was one of 10 children, born to parents too poor to pay for the treatment he needed, and of course there was no insurance. Embarrassed by his condition, Lowe dropped out of school in fifth grade without learning to read or write, and eventually followed his father into the mines - and still couldn't afford treatment. Twenty-three years...
...brought into sharp focus the themes of his poverty tour: That it is wrong for millions of Americans to have no medical care. That it is wrong for millions of Americans to work full time yet live in poverty. And on Wednesday he began linking the problems of the poor to the economic anxieties of the middle class in a way he had not often done over the previous two days. It's a linkage he'll undoubtedly make again and again as he builds his message in the coming months and tries to reinvigorate his campaign. "I've been...