Word: sectored
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...bail out Eastern Europe has begun in earnest. According to MarketWatch, "The World Bank, the European Bank for Reconstruction and Development and the European Investment Bank issued a joint pledge Friday to provide up to 24.5 billion euros ($31.2 billion) in aid to support Eastern Europe's bank sector." That is almost certainly only the beginning of the process...
Though Sweden is, of course, an attractive model, we must remember that it was successful because the banks were successfully reprivatized. We must make sure that, if we do nationalize the banks, we minimize the barriers for the private sector to buy healthy bank assets in the future. Also, we must limit this approach to the banking sector. Not all companies should receive this special treatment—in the automotive sector, for instance, we must strongly consider allowing firms to fail if they cannot compete in the open market...
...South Korea's service sector in general is still fettered by regulation that stifles its development as a source of growth and employment. A December report by the Organization for Economic Cooperation and Development found that service companies are burdened by higher taxes and energy costs than manufacturers, while excessive regulation creates barriers for start-ups. Hwang Doo Jin, an architect who operates his own small firm in Seoul, complains of endless, stressful hours untangling the confusing rules that govern his business. "It is easier to produce a masterpiece than run a viable business over time," Hwang says...
...tigers are already heading in the right direction. Shortly after South Korean President Lee Myung Bak took office last year, he launched a program to improve the services sector by increasing financial assistance to targeted businesses and by reducing red tape. Taiwan President Ma Ying-jeou is undertaking his own deregulation program, with a special focus on Taiwan's biggest trading partner, China. Ma believes that sectors of Taiwan's economy, such as tourism and finance, have been stunted by the island's political standoff with Beijing. (China considers Taiwan a renegade province.) Ma is pushing for an agreement with...
...advised to many observers. The move could nix some 50 low-income projects slated to be built on the peninsula this year. And it seems particularly unwise when you consider that construction is one of the state's most crucial industries but is suffering the highest unemployment of any sector...