Tag: globalization
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US incomes fall to 1989 levels. How did that happen?
Christian Science Monitor: US incomes fall to 1989 levels. How did that happen? A Census report signals that for much of America, the economic downturn has produced not one lost decade but two. But the data also show that federal safety-net programs helped keep people out of poverty. … … Economists haven't reached a consensus…
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The world economy: Three-way split
The Economist: The world economy: Three-way split America, the euro zone and the emerging world are heading in different directions. THIS year has turned out to be a surprisingly good one for the world economy. Global output has probably risen by close to 5%, well above its trend rate and a lot faster than forecasters…
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The Suprising Impact of China’s “Sweatshops”
Oregon Live: Chinese factory workers cash in sweat for prosperity WUHU, China — Years after activists accused Nike and other Western brands of running Third World sweatshops, the issue has taken a surprising turn. The path of discovery winds from coastal factory floors far into China's interior, past women knee-deep in streams pounding laundry. It…
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Another Impact of Globalization on America
Tennessean: BMW to increase U.S. production while cutting workers in Germany (HT: Mark Perry) COLUMBIA, S.C. — On one side of the Atlantic Ocean, BMW says it will cut 7.5 percent of its work force over two years. On this side of the water, the company says it plans to increase production by more than…