Prepare for a plastic meltdown
First is the subprime mortgage crisis, then the auto-industry crisis. Now as we approach 2009, the unsecured debt crisis threatens a plastic meltdown next year.
New 'employment ice age' coming?
Dozens of companies in Japan have cancelled job offers to students graduating next spring amid a deepening business slump. Should companies be allowed to break their promise to employ students on graduation just because of an economic downturn?
It's time to learn the simple art of saving
It's game over for the American consumer. Inflation-adjusted personal consumption expenditures are on track for rare back-to-back quarterly declines in the second half of 2008 at a 3.5 percent average annual rate. There are only four other instances since 1950 when real consumer demand has fallen for two quarters in a row. This is the first occasion when declines in both quarters will have exceeded 3 percent. The current consumption plunge is without precedent in the modern era.
Stimulus projects must meet green standards
China's 4 trillion yuan stimulus package is a much-needed shot of vitality for a tired world economy. Commentators and markets are busy dissecting the package to see what's there, what's new, what's not, and what effect it will have on the current economic crisis. I want to add a note of cautious optimism, but also a note of worry and some suggestions.
Be more imaginative about TV commercials
Watching television the other night, I came across a commercial of a hamburger restaurant (not McDonald's) which was reasonably well done with nice scenes and a refreshing looking cast. But the ad turned me off.
Fighting climate change
The opening of the United Nations' annual conference on climate change yesterday at Poznan in Poland is a timely reminder that the unfolding financial crisis should in no way weaken the world's commitment to fighting climate change.
Boost rural spending
There are good reasons to welcome the Chinese government's decision to extend subsidies for farmers' purchase of home appliances and mobile phones to another 10 provinces starting yesterday and to all other provinces from next February.
The right tax threshold
The disputes on the threshold of individual income tax are largely due to the income gap between different regions, says an article in Changjiang Daily. The following is an excerpt:
Decentralize ticket pricing
To guarantee the interests of consumers, we should break the monopoly of railway market by State-owned enterprises, says an article in Yanzhao Evening Post. The following is an excerpt:
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