Yet all the good news about China obscures an unavoidable problem. Nobody—but nobody—can keep growing at China's frenetic pace year after year without risking a major crisis. Evidence of financial bubbles abounds. The Chinese banking system, weighed down by years of state-directed lending to profitless government enterprises, is an accident waiting to happen. China supposedly invested more than 40 percent of its gross domestic product last year, and clever as the authorities may be, that money can't have all gone to sound, profitable projects. (If it did, growth would be even higher.) So the bad-loan problem must be getting bigger, not smaller.
{"title":"The IMF's China Card","authors":"Kenneth Rogoff","doi":"10.2307/4147578","DOIUrl":"https://doi.org/10.2307/4147578","url":null,"abstract":"Yet all the good news about China obscures an unavoidable problem. Nobody—but nobody—can keep growing at China's frenetic pace year after year without risking a major crisis. Evidence of financial bubbles abounds. The Chinese banking system, weighed down by years of state-directed lending to profitless government enterprises, is an accident waiting to happen. China supposedly invested more than 40 percent of its gross domestic product last year, and clever as the authorities may be, that money can't have all gone to sound, profitable projects. (If it did, growth would be even higher.) So the bad-loan problem must be getting bigger, not smaller.","PeriodicalId":35823,"journal":{"name":"Foreign Policy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2004-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2307/4147578","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69350185","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The persistent inflow of Hispanic immigrants threatens to divide the United States into two peoples, two cultures, and two languages. Unlike past immigrant groups, Mexicans and other Latinos have not assimilated into mainstream U.S. culture, forming instead their own political and linguistic enclaves-from Los Angeles to Miami-and rejecting the AngloProtestant values that built the American dream. The United States ignores this challenge at its peril. By Samuel P. Huntington Huddled masses: Mexican workers gather at the Smithfield hog plant in Tar Heel, North Carolina, to celebrate asaint's feast day in June 2000. They were hired to replace American workers who quit over low wages.
{"title":"The Hispanic Challenge","authors":"S. Huntington","doi":"10.2307/4147547","DOIUrl":"https://doi.org/10.2307/4147547","url":null,"abstract":"The persistent inflow of Hispanic immigrants threatens to divide the United States into two peoples, two cultures, and two languages. Unlike past immigrant groups, Mexicans and other Latinos have not assimilated into mainstream U.S. culture, forming instead their own political and linguistic enclaves-from Los Angeles to Miami-and rejecting the AngloProtestant values that built the American dream. The United States ignores this challenge at its peril. By Samuel P. Huntington Huddled masses: Mexican workers gather at the Smithfield hog plant in Tar Heel, North Carolina, to celebrate asaint's feast day in June 2000. They were hired to replace American workers who quit over low wages.","PeriodicalId":35823,"journal":{"name":"Foreign Policy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2004-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2307/4147547","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69349801","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Any alert voter can see that U.S. President George W. Bush is engineering a remarkable election-time economic boom. But before high-minded economists and commentators start crying foul, just how excessive is the Bush business cycle? How will this president’s economic pursuit of electoral success stack up against the standard for largesse set by U.S. President Richard Nixon back in 1971-72, or against the free-spending ways of politicians in the rest of the world, for that matter?
任何一个警惕的选民都能看到，美国总统乔治·w·布什(George W. Bush)正在策划一场非同寻常的选举时期的经济繁荣。但是，在高尚的经济学家和评论员开始叫嚣不公平之前，布什的商业周期到底有多过分?这位总统对选举成功的经济追求如何与1971-72年美国总统理查德·尼克松(Richard Nixon)设定的慷慨标准相比较，或者与世界其他国家政客大手大脚的花钱方式相比较?
{"title":"Bush Throws a Party","authors":"Kenneth Rogoff","doi":"10.2307/4147553","DOIUrl":"https://doi.org/10.2307/4147553","url":null,"abstract":"Any alert voter can see that U.S. President George W. Bush is engineering a remarkable election-time economic boom. But before high-minded economists and commentators start crying foul, just how excessive is the Bush business cycle? How will this president’s economic pursuit of electoral success stack up against the standard for largesse set by U.S. President Richard Nixon back in 1971-72, or against the free-spending ways of politicians in the rest of the world, for that matter?","PeriodicalId":35823,"journal":{"name":"Foreign Policy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2004-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2307/4147553","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69349883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Learning to Love the Tiny Bomb","authors":"M. Levi","doi":"10.2307/4147559","DOIUrl":"https://doi.org/10.2307/4147559","url":null,"abstract":"","PeriodicalId":35823,"journal":{"name":"Foreign Policy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2004-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2307/4147559","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69350081","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Oded Grajew, M. Barlow, T. Clarke, J. Cavanagh, M. Rupert, D. Boyles, Mark S. Strauss
{"title":"Debating Anti-Semitism","authors":"Oded Grajew, M. Barlow, T. Clarke, J. Cavanagh, M. Rupert, D. Boyles, Mark S. Strauss","doi":"10.2307/4147541","DOIUrl":"https://doi.org/10.2307/4147541","url":null,"abstract":"","PeriodicalId":35823,"journal":{"name":"Foreign Policy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2004-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2307/4147541","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69349632","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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