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...following suit. In the fourth quarter of 2008, Taiwan's GDP contracted 8.4% from the same period a year earlier, making it the worst quarter on record. South Korea's GDP shrank 3.4%, Singapore's fell 4.2%, and Hong Kong's dipped 2.5%. Eric Fishwick, head of economic research at the brokerage CLSA in Hong Kong, predicts the dismal numbers will persist. He expects GDP in Taiwan and Singapore to contract at double-digit rates this year. "We've never seen an external shock in Asia like this," says Fishwick...
...tigers really want to thrive, the answer might lie in rejecting a legacy of Park Chung Hee: the idea that government alone can successfully engineer high economic performance. Jim Walker, an economist at the research firm Asianomics in Hong Kong, argues that Asia's politicians still intervene too much in their economies instead of allowing market forces to work. "What governments need to do is start trusting their own people rather than hoping the West is going to get it right all of the time," Walker says. For the tigers to keep roaring, they may need to find their future...
Also at the table was Wes Mannion, head of Australia Zoo, the for-profit founded by the late Steve Irwin, the "Crocodile Hunter." The zoo had inked a deal with the government to help save the wombat, mainly through research support. "It's all about the marketing and money, mate," chimed in Mannion, an Irwin look-alike in his Aussie safari outfit. That view won over Alan Horsup, a conservation officer who spent the past two decades in an often lonely quest to pull the northern hairy-nose back from the edge of extinction. "I didn't like...
Despite hailing President Barack Obama’s move to lift restrictions on federal funding of embryonic stem cell research, scientists at Harvard note a potential negative impact of the decision: a decrease in philanthropic and state support for their projects...
Obama’s reversal of George W. Bush’s 2001 restriction, combined with the recent federal economic stimulus package, means that stem cell researchers nationwide could now be eligible for an unprecedented $10.4 billion from the National Institutes of Health, the primary federal agency for biomedical research funding...