Word: problem
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...automobiles at a rate of 1,000 a day. The number of vehicles on the capital's sclerotic roads has doubled in the past five years, to 3 million. (By comparison, there are about 2 million vehicles registered in all of New York City.) But despite a grim pollution problem (Beijing air quality is among the world's worst) that could embarrass China during next summer's Olympic Games, the central government has made no move to curb vehicle purchases through regulation or taxes. And that, in turn, has made it harder for governments in the developed world to make...
...Beijing, having $1.4 trillion to invest is a nice problem, but a complicated one nonetheless. "It's the classic elephant-in-the-room syndrome," says one Western banker who advises the State Investment Company. "Where does he sit? Anywhere he wants, sure. But he's got to be very careful that he doesn't squash anything when he does." The mere whiff of a rumor that, say, Beijing may shift part of its foreign-exchange holdings from dollars into euros has rattled world currency markets several times in the past year...
...that been the only political problem tied to foreign investment for China. Beijing has not forgotten the protectionist uproar that was triggered in the U.S. when CNOOC tried to buy the Los Angeles-based Unocal. The lessons, say people involved in the deal, have been seared into their brains, and have been evident in the Chinese investments in Barclays and Blackstone. Rather than trying to swallow big, high-profile Western firms in one bite, the Chinese are taking smaller, strategic stakes and working, in the case of the Barclays deal, with another prominent partner, Temasek...
...problem for Giuliani - and the rest of the field - is that Thompson has the same strategy, and the Tennessean's Southern drawl and conservative voting record are likely to play well in South Carolina. If Thompson can keep enthusiasm high until he enters the race in the fall, he might be able to turn what was supposed to be a marathon race for the nomination into a relatively brief, four-month sprint. And while Thompson may not, in the end, be all things to all Republicans, at 6 ft. 5 in. and at least 225 lbs., he definitely...
There are more strategic differences, of course, between the pre- and post-Petraeus eras. Lieutenant-Colonel Jack Marr, who commands 1-15, was stationed outside Fallujah with the 82nd Airborne in 2003 and early 2004. Back then the immediate problem for American forces was the Sunni insurgency. Four years later sectarian divisions in Iraqi society and the mainly Shi'a Iraqi security forces are largely driving the conflict. Marr, a 20-year Army veteran, confronts that problem with the heavily Shi'ite police unit he works with in this dusty farming community 20 miles southeast of Baghdad. "It is difficult...