Is China at Risk of Defaulting?
One calculation puts China's sovereign debt at 150 percent of its G.D.P., a bigger percentage than Greece's. As China is buying up more European debt, could it be at risk of defaulting?
What's the Latest Development?
Chinese Premier Wen Jiabao travelled to Europe recently to reassure his country's biggest trading partner that China will not stand idly by as European economies struggle under the burden of Greece's imminent default. $2 billion in trade deals were signed in London while Germany, China's biggest trading partner in Europe, made out even better with $15 billion in trade contracts. But it was not all for Europe's benefit, of course. Of China's $3 trillion currency reserve, a quarter is held in European bonds.
What's the Big Idea?
Considered to be an economic behemoth, few have asked after China's debt which, depending on how it is measured, accounts for between 60 to 150 percent of G.D.P. While China's economy is doing better than most, it's long term welfare depends on market liberalization, says Victor Shih, professor of political science at Northwestern University: "When we take into account all the liabilities of state-owned enterprises, [national debt] comes out to be over 150 percent of the Chinese economy. ... There is a huge amount of inefficiency in the economy which will create a big drag on the Chinese economy going forward."
Pfizer's partnerships strengthen their ability to deliver vaccines in developing countries.
- Community healthcare workers face many challenges in their work, including often traveling far distances to see their clients
- Pfizer is helping to drive the UN's sustainable development goals through partnerships.
- Pfizer partnered with AMP and the World Health Organization to develop a training program for healthcare workers.
The famed author headed to the pond thanks to Indian philosophy.
- The famed author was heavily influenced by Indian literature, informing his decision to self-exile on Walden Pond.
- He was introduced to these texts by his good friend's father, William Emerson.
- Yoga philosophy was in America a century before any physical practices were introduced.
Progressive America would be half as big, but twice as populated as its conservative twin.
- America's two political tribes have consolidated into 'red' and 'blue' nations, with seemingly irreconcilable differences.
- Perhaps the best way to stop the infighting is to go for a divorce and give the two nations a country each
- Based on the UN's partition plan for Israel/Palestine, this proposal provides territorial contiguity and sea access to both 'red' and 'blue' America
A little goes a long way.
- A recent study from the Department of Health and Human Services found that 80 percent of Americans don't exercise enough.
- Small breaks from work add up, causing experts to recommend short doses of movement rather than waiting to do longer workouts.
- Rethinking what exercise is can help you frame how you move throughout your day.
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