Word: sectored
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...green jobs that cap and trade could help create would be a big employment sector--including production of wind turbines, pollution scrubbers and more. Obama and Clinton talk about spending $150 billion over 10 years to create millions of those jobs, but it's the sale of pollution allowances that would raise that money. No cap and trade, no jobs. That seems simple--but not to the campaigns...
Something is about to change--but almost certainly for the worse. Higher labor costs, a strengthening Chinese currency and soaring raw-materials prices are bad enough. Now a slowdown in global growth and a likely full-blown recession in the U.S. are about to stress-test China's manufacturing sector like never before--and could result in the shuttering of thousands of factories and cost hundreds of thousands of workers their jobs. Makers of low-end goods are already suffering. The Guangdong city of Huidong was home to 3,000 shoe factories at the beginning of 2007, but as many...
...fold. Although Chinese banks during the current boom have been able to reduce their unusually high proportion of nonperforming loans carried on their books, declining corporate earnings will diminish borrowers' ability to repay their debts. While it's difficult to assess the overall exposure of banks to the manufacturing sector, it's easy to imagine lenders getting caught in a Chinese-style credit crisis if manufacturing contracts sharply...
...government of President Cristina Fernandez blamed farmers for the increasingly unbreathable air. It continues to be on the political offensive against the private agricultural sector following a major farm strike against export taxes earlier this month. "This is the largest fire of this kind we've ever seen," said Interior Minister Florencio Randazzo in an emergency press conference at the Casa Rosada presidential palace. "It was started by farmers clearing land for cattle grazing driven by greed for profit with total disregard for human life." The President was just as harsh. "This is not a natural disaster, this...
...widely expected to announce deeper changes during a speech on May 1, which is Labor Day for much of the world and a sacred date on the communist calendar. Since greater agricultural efficiency is regarded as his priority, some analysts say he might permit foreign investment in that sector as well. He may also allow Cubans to travel abroad freely and open the door to wider entrepreneurship in Cuba, letting business owners hire employees other than immediate family members and set their own prices...