Word: sectored
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...with the conflict could bring a new constitutional order in its wake. In the 21st century, what might be called "market states" could replace nation-states. Market states will have the same borders and political systems as nation-states but will shift important responsibilities from government to the private sector; multinational corporations will become surrogate agents of government, filling roles that government can no longer play and blurring the boundaries between political and corporate leadership. Because the market is private, global and transactional, market states are better able than nation-states to cope with a war that is partly private...
...French political system, but you wouldn't know it from their policies. That has led traditional allies like Seillière and other business leaders to lament the lost opportunity?a chance to slash away at a social and economic structure they view as hobbled by an obese public sector, hefty taxes and costly entitlements. "We've had a change of political direction," says Seillière, so he can't understand the government's "hesitation to modify laws that the right has always denounced in the strongest language...
...waves of protest. With the leftist opposition in disarray after its electoral trouncing last June, Raffarin's stiffest challenge may come from the European Union: its requirement that budget deficits steadily come down will be tough during an economic slump, especially if Raffarin cuts taxes without shrinking the public sector. That's an economic equation studded with contradiction and conflict?qualities the Raffarin team so far has demonstrated in abundance...
Along Zurich?s Bahnhofstrasse, home to the nation?s biggest banks and priciest jewelers, nerves are fraying. These are tough times for the Swiss financial services sector, which accounts for more than 10% of the nation?s gross domestic product and approximately 6% of jobs. The long slide of world stock markets is taking its toll on profitability and forcing bankers to work particularly hard to calm their well-heeled clients. Swiss banks have also borne the brunt of a successful tax amnesty mounted earlier this year by Giulio Tremonti, Italy?s Finance Minister. Italians repatriated assets valued...
...banking commission director Daniel Zuberbuehler that Swiss bankers dub naming and shaming. The commission's reasoning: "The fact in itself that significant funds from the entourage of the former Abacha regime were deposited in Swiss bank accounts is extremely regrettable and damaging to the reputation of Switzerland's financial sector...