As Nick Lardy observes, The beneficiaries of imbalanced growth — including export- and import-competing industries (which enjoy elevated profits at the expense of firms in the service sector), coastal provinces (which have enjoyed supercharged economic growth at the expense of inland regions), the real estate and construction industries (which have benefitted from interest rate policies that have made residential property a preferred asset class), and China’s banks (which enjoy… [read post]

“If true, this would be in violation of a core principle of the law of war: the prohibition against the summary execution of civilians and of combatants who are hors de combat by virtue of surrender, injury or other forms of incapacitation,” she said at the U.N. [read post]

He made his way to Houston, where he bought a fake Social Security card and went to work with his brothers-in-law, Martin and Mario Ramirez, who had crossed into the U.S. before him. [read post]