Word: stimulus
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...secret that Specter was facing a hostile future in his former party. Moderates had abandoned the Republicans in waves before the 2008 election, and conservatives - who had never trusted the moderate, pro-choice Specter - were outraged by his support of President Obama's stimulus package earlier this year. Polls in recent weeks showed Specter losing in a primary contest to Toomey by 20 points or more...
...only a joke. In mid-February, during backroom negotiations over the economic-stimulus package, Nebraska Senator Ben Nelson tried to cut the tension. He turned to the three Republicans in the room and said, "If only you'd consider switching sides, then we'd all be on the same team and this would be a lot easier." Looking back on that moment, Democrat Nelson recalls something that seems far more telling now than it did at the time: Arlen Specter was the only one of them who didn't laugh...
...corporate performance underscores this growing divide. Li Rongrong, chairman of State-Owned Assets Supervision and Administration Commission, which runs more than 150 companies, recently told the state-run Xinhua news service that SOE profits surged 86% in March compared with the previous month. Li attributed the increase to government stimulus spending...
...recent years, the pendulum has begun to swing the other way. Many of China's state-owned enterprises (SOEs) have grown into giants, eclipsing the relatively young, private companies that have contributed heavily to the country's progress. That trend is being reinforced as China implements economic stimulus measures that in practice boost state-owned giants while private companies are left largely to fend for themselves. (See pictures of China's electronic waste village...
...some familiar names, among them China Mobile, the world's largest mobile phone company by subscribers, Baoshan Steel and China National Petroleum Corp. The role they play in China's hybridized economy appears to be expanding due to the global slump. As Beijing fights recession with a $586 billion stimulus package and as banks boost lending at the behest of the government, the private sector looks to be getting squeezed out. Loans to private firms in January totaled $61.7 billion, down $102.5 million from the previous month, even as total lending has swelled, according to the All China Federation...