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Daily Archives: February 15, 2008

New CRS Report: How Large is China's Economy? Does it Matter?

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How Large is China’s Economy? Does it Matter? Wayne M. Morrison and Michael F. Martin, Foreign Affairs, Defense, and Trade Division, February 13, 2008 [via IWS Documented News Service]

  • Summary: “China’s rapid economic growth since 1979 has transformed it into a major economic power. Over the past few years, many analysts have contended that China could soon overtake the United States to become the world’s largest economy, based on estimates of China’s economy on a “purchasing power parity” (PPP) basis, which attempts to factor in price differences across countries when estimating the size of a foreign economy in U.S. dollars. However, in December 2007, the World Bank issued a study that lowered its previous 2005 PPP estimate of the size of China’s economy by 40%. If these new estimates are accurate, it will likely be many years before China’s economy reaches U.S. levels. The new PPP data could also have an impact on U.S. and
    international perceptions over other aspects of China’s economy, including its living standards, poverty levels, and government expenditures, such as on the military. This report will not be updated.”

    • The Federal Reserve's Tools for Responding to Financial Disruptions

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    Governor Frederic S. Mishkin At the Tuck Global Capital Markets Conference, Tuck School of Business, Dartmouth College, Hanover, New Hampshire, February 15, 2008 “In recent months, the Federal Reserve has faced a more difficult policy environment as a result of disruptions to the financial markets. We have attempted to address the resulting challenges by using… Continue Reading

    Treasury International Capital Data for December

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    “Treasury International Capital (TIC) data for December are released today…Net foreign purchases of long-term securities were $56.5 billion…Net foreign purchases of long-term U.S. securities were $69.1 billion. Of this, net purchases by foreign official institutions were $35.8 billion, and net purchases by private foreign investors were $33.3 billion. U.S. residents purchased a net $12.6 billion… Continue Reading

    Pew Survey: Economic Discontent Deepens as Inflation Concerns Rise

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    The Pew Research Center for the People and the Press: “Public views of the U.S. economy, already quite negative, have plummeted since January. Just 17% currently rate the nation’s economy as excellent or good, down from 26% last month. The percentage of Americans rating the economy as “poor” has increased even more dramatically, from 28%… Continue Reading

    EPA OIG: Office of Air and Radiation Needs to Improve Compliance with Audit Followup Process

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    08-P-0080 EPA’s Office of Air and Radiation Needs to Improve Compliance with Audit Followup Process [Report PDF – 20 pages] [At a Glance PDF] “Audit followup is essential to good management and improving the efficiency and effectiveness of U.S. Environmental Protection Agency (EPA) programs and operations. EPA has audit followup procedures and designated officials who… Continue Reading

    FTC Releases Report Examining Laws That Apply Differently to the U.S. Postal Service and its Private Competitors

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    “The Federal Trade Commission today issued a report entitled Accounting for Laws that Apply Differently to the United States Postal Service and its Private Competitors (118 pages, PDF), which fulfills its requirement under the Postal Accountability and Enhancement Act (PAEA). The report identifies and quantifies – to the extent possible – the Postal Service’s economic… Continue Reading

    British Ministry of Justice Study: Diversity and Ethnic Fairness in the Jury System

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    Diversity and Ethnic Fairness in the Jury System, Cheryl Thomas with Nigel Balmer, Ministry of Justice, June 2007. Jur-E Bulletin: “The study was completed in June of 2007 but is now available online. The study is 244 pages long and has a number of findings. However, two of the key points are that the juror… Continue Reading

    SEC Proposes Plain English Narrative Disclosure by Investment Advisers to Investors

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    Press release, February 13, 2008: “The Securities and Exchange Commission today voted unanimously to propose rule amendments requiring investment advisers to prepare and deliver to clients and prospective clients a narrative brochure written in plain English. Brochures would be made available to the general public through the SEC sponsored Investment Adviser Public Disclosure Web site.… Continue Reading

    Imperiled Treasures: How Recent Supreme Court Decisions and Agency Actions Have Endangered Southwest Waters and Wildlife

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    National Wildlife Federation: “For thirty years the federal Clean Water Act broadly protected waters in the nation and across the Southwest. It sought, with a great deal of success, to safeguard important waters from pollution and destruction. Historically, it applied to waters from the Rio Grande to playa lakes. However, now the protections of the… Continue Reading