Tag Archives: gross domestic product

China’s chance to reinvent itself environmentally

China’s 34-year-old Environmental Protection Law was created when it made sense for legislators in a developing country to trade environmental well-being for a boost to the gross domestic product.

Today, China wrestles with pollution that is leaving its citizens gasping for clean air, worried about water quality and concerned for the safety of the food grown there. In the current issue of Science, a team of researchers, including a Michigan State University sustainability expert, offers guidelines for revising the EPL to protect both humans and nature. (more…)

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A Country of Two Tales

Confucius Institute director addresses global impact of China’s economy

China’s economy has undergone astounding growth during the past 60 years, with its gross domestic product (GDP) climbing from just under $18 billion in 1949 to almost $6 trillion in 2011. Most of that growth has occurred since 1980, when the country’s economic reform began.

The result? China has emerged from being known as “the world’s most populous country” to the “growth engine for the world’s economy.”

But the double-digit growth that China witnessed every year from 2003 to 2011 has slowed, leading to much debate about the seriousness of the downturn and how it will reverberate across the globe. (more…)

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Recovery Continues for U.S. Economy, Adding 5 Million Jobs

ANN ARBOR, Mich.— America’s economy will continue its recovery this year and next as it adds nearly 5 million jobs and unemployment falls below 8 percent, say University of Michigan economists.

“The performance of the U.S. economy during much of 2011 did nothing to alter the perception that we were mired in a sluggish recovery,” said U-M economist Joan Crary. (more…)

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Political Leaders Play Key Role in How Worried Americans Are By Climate Change

COLUMBUS, Ohio – More than extreme weather events and the work of scientists, it is national political leaders who influence how much Americans worry about the threat of climate change, new research finds.

In a study of public opinion from 2002 to 2010, researchers found that public belief that climate change was a threat peaked in 2006-2007 when Democrats and Republicans in Congress showed the most agreement on the issue. (more…)

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United States Ranks 20th in Holiday Spending

*Americans typically spend $70 billion more in December than in November and January*

Americans typically spend $70 billion more in December than in the average of November and January (the months around December). In a recent National Science Foundation-sponsored interview, Joel Waldfogel, the Carlson School’s Frederick R. Kappel Professor of Applied Economics at the University of Minnesota uses that increase to measure the amount of holiday gift-giving. This level of spending is lower than in other countries. “We’re about the 20th largest in terms of countries in the world,” said Waldfogel, referencing how much U.S. December spending increases. (more…)

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Links in the Chain: Global Carbon Emissions and Consumption

Washington, D.C. — It is difficult to measure accurately each nation’s contribution of carbon dioxide to the Earth’s atmosphere. Carbon is extracted out of the ground as coal, gas, and oil, and these fuels are often exported to other countries where they are burned to generate the energy that is used to make products. In turn, these products may be traded to still other countries where they are consumed. A team led by Carnegie’s Steven Davis, and including Ken Caldeira, tracked and quantified this supply chain of global carbon dioxide emissions. Their work will be published online by Proceedings of the National Academy of Sciences during the week of October 17. (more…)

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Anderson Forecast: Economy ‘On the Mend’ as GDP Grows, Payroll Employment Increases

In its first quarterly report of 2011, the UCLA Anderson Forecast is cautiously sanguine about the national economy, as real gross domestic product continues to grow at a steady pace and employment continues to increase. 

However, the recovery is still slow, and the recession cut jobs so deeply that growth will be insufficient to surpass the employment peak reached in early 2008 by the end of 2013.  (more…)

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