| Inequalities in Asia’s Giants
The growth of the world's two most populous nations, India and China, is often cited as the largest contributor to the reduction in global poverty levels in the last fifteen years. With an average annual growth rate of 9.5 percent, China has lifted over 400 million of its 1.3 billion citizens out of poverty in the last twenty years. India's 7.5 percent average growth has brought an estimated 100 million out of its 1.1 billion people out of poverty since 1991. But the incredible growth of these rising powers has been marred by uneven gains. An estimated 150 million Chinese and more than 300 million Indians remain under the poverty line, earning less than one dollar a day. In China, this has meant a rapid, uncontrolled migration of people from rural areas into already crowded cities as this backgrounder explains.
The CNN Wire: Thursday, Nov. 15
Pakistani president swears in interim cabinet members ISLAMABAD, Pakistan (CNN) -- Pakistan President Gen. Pervez Musharraf swore seven of his allies into a caretaker government on Friday -- a body that will oversee the parliamentary process until national elections can be held no later than Jan. 9. "An old cabinet is gone and a new cabinet -- a caretaker government -- has been sworn in," Musharraf said to applause. "Life continues, no body is permanent. One comes, one serves, tries one's best in the interest of the nation ... and then when they have to go that is the way of nature, they have to leave and this is what is democracy." The event, carried live on Pakistani state-run TV, showed the new members taking an oath to "bear true faith" to Pakistan, among other pledges.
Hospital Releases Dangerous Toy List
HOUSTON -- Texas Children's Hospital and the Texas Public Interest Research Group released a list of dangerous toys on Tuesday, KPRC Local 2 reported. The toys on the list are determined by several factors including choking and strangulation hazards, powerful magnets and lead content. Parents were urged to check toys for hidden dangers before they are purchased. .
Australia Shares Look For Answers To World Financial Sector Jitters
(RTTNews) - Australia stocks will look Wednesday to shake off the financial sector jitters causing volatility in global markets. Australia stocks started Tuesday in the red and remained there for the day, with major financial houses hurt from news that overseas subprime write-downs are likely to continue. The S&P/ASX 200 Index dropped 109.80 points, or 1.7 percent, to 6,425.40 for its biggest drop since November 8th and its lowest close since September 21. The major resources stocks were lower thanks to choppy metals prices overseas. BHP Billiton lost $1.29 and Rio Tinto $4.10. National Australia Bank, the nation's largest lender, declined .57, or 1.3 percent, to A$42.08. Westpac Banking Corp.dropped .37 or 1.3 percent to reach its lowest level since Sept.
Mom's credit score hurt over son's car loan
I have a huge problem and I am livid. Two years ago, my son (who had recently graduated from college) couldn't qualify for a car loan because he had no credit history to speak of. So I signed the papers, too, but made sure the car was only in his name. After discovering my credit score had dropped from 735 to below 600, I just found out my son is four months behind on his car payments and that it's on my credit report. This isn't right. It's his car in his name, and the bank didn't tell me he was behind. What can I do? K.E., University Heights A: Besides yell at your son, not much. You should have realized the importance of co-signing the loan payments: You're agreeing to be held liable if he doesn't make the payments. It's your responsibility to ensure the payments are made.
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