Sheng Li/ReutersEverything is bigger in China. This ice castle—or, ice bank fortress—is perhaps the most spectacular entrant in the 30th annual International Ice and Snow Sculpture Festival in the northeastern Chinese city of Harbin.
It seemed like a classic example of euphemistic bureaucrat-speak when, on Friday, U.S. officials referred to the deployment of Russian troops in Crimea as an "uncontested arrival" rather than an invasion.
The Orange riots took place in Manhattan, New York City in 1870 and 1871, and involved violent conflict between Irish Protestants, called "Orangemen", and Irish Catholics, along with the New York City Police Department and the New York State National Guard.
The riot had caused the deaths of over 60 civilians – mostly Irish laborers – and three Guardsmen. Over 150 people were wounded, including 22 militiamen, 20-some policeman injured by thrown missiles and 4 who were shot, but not fatally. About 100 people were arrested.
Gas and oil prices have risen amid fears the Ukraine crisis could have a damaging effect on one of Europe's main energy supply routes. But analysts say high European gas stocks will limit the turbulence.
In the 20 years since it entered into force, the North American Free Trade Agreement has been both lauded and attacked in the United States. But to properly assess NAFTA’s record, it is important to first be clear about what the agreement has actually done. Economically speaking, the answer is a lot.
NAFTA was the first comprehensive free-trade agreement to join developed and developing nations, and it achieved broader and deeper market openings than any trade agreement had before.
NAFTA did that by eliminating tariffs on all industrial goods, guaranteeing unrestricted agricultural trade between the United States and Mexico, opening up a broad range of service sectors, and instituting national treatment for cross-border service providers. It also set high standards of protection for patents, trademarks, copyrights, and trade secrets.
NAFTA ignited an explosion in cross-border economic activity. Today, Canada ranks as the United States’ largest single export market, and it sends 98 percent of its total energy exports to the United States, making Canada the United States’ largest supplier of energy products and services. Mexico is the United States’ second-largest single export market. Over the past two decades, a highly efficient and integrated supply chain has developed among the three North American economies. Intraregional trade flows have increased by roughly 400 percent.
North Americans not only sell more things to one another; they also make more things together. About half of U.S. trade with Canada and Mexico takes place between related companies, and the resulting specialization has boosted productivity in all three economies. NAFTA has also caused cross-border investment to soar.
In spite of this impressive economic record, NAFTA has its critics. Most of those who attack it on economic grounds focus on Mexico, not Canada, and claim that the partnership is one-sided: that NAFTA is Mexico’s gain and America’s pain. But the economic data prove otherwise.
"“The average South African consumer is not in great shape. Low-income consumers spend 89% of net income to service debt, yet need 70% of income just to cover essential living expenses. It's been a tough year, the rise in ..."
After months of extremely dry weather, a Sacramento-area lake has pulled a massive disappearing act.
California just suffered its driest year in 119 years, and the horrid drought that's plaguing the state (and much of the American West) still shows no sign of relaxing its withering grip. But how bad is it, really?
Well, it's so dry that "grass-fed beef" is becoming "grain-fed beef," as ranchers can't find any grass to feed their cattle. Things are so parched that the state's municipal water system has announced it can't get water to many farmers. That's a first in its 54-year history, and not a good omen for the state that produces half of America's vegetables and fruits.
The Next Generation Power Electronics Innovation Institute in North Carolina will bring leading companies, universities, and federal research together under one roof to help develop the next generation of power electronics.