Word: sectored
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...technocrats in Beijing pull this off? The country has an advantage: it has not yet leveraged its enormous domestic market. The service sector has huge potential. Consider entrepreneurs like Colleen Wang. Instead of employing low-wage metal benders, Wang's ad agency, Rayken, provides jobs for young, middle-class professionals: graphic designers, art directors, a couple of account executives and several copywriters...
...This needs to change - and it has started to. Beijing's plans to increase the service sector's overall contribution to the economy by 3 percentage points by 2010 - to 43% of GDP - and by 10 points a decade from now. Earlier this year, the government ordered state-owned banks to step up lending to service-sector companies. Beijing has also begun to break down barriers that have prevented foreign companies from investing in highly regulated areas of the economy. Health care, which should generate an enormous number of jobs going forward as China's population ages rapidly...
...drop below 2% next year. And for the first time since the collapse of the Soviet Union in 1991, the threat of large-scale unemployment looms. "Money was falling from the sky in the past two to three years," says Maxim Oreshkin, the head of research at private-sector Rosbank in Moscow. "Now it's stopped falling...
...television appearance, the first question to him came from Dmitry Salnikov from the village of Tirlyansky, near the Urals region of central Russia. "We are a young and currently jobless family," said Salnikov. "Most locals are also unemployed because they used to work for the metallurgical sector. What are we supposed to do in this situation?" Putin's vague answer: "Private and public authorities will have to draft an entire range of measures in an effort to preserve jobs...
...broad swathes of the economy. Through the state-controlled banks, it is bailing out selected business executives who are having trouble paying their debts - including Oleg Deripaska, a metals tycoon who until recently was Russia's richest man. It is also playing an increasingly intrusive role in the private sector. At a meeting in Moscow on Nov. 25, for example, Igor Shuvalov, Putin's First Deputy Prime Minister, told the nation's major retailers that the Kremlin would ensure they gained access to credit on condition that they demonstrated "social responsibility" by not raising prices...