The United States and China hold the best hope for leading a global economic recovery, yet they may lack sufficient strength to firmly pull the world out of recession.
President Barack Obama warned fellow world leaders at the Group of 20 summit in London that they should not count on "voracious" U.S. consumers generating the level of demand that helped drive eight years of strong global economic growth.
But without an obvious growth engine to replace flagging American consumption, the global economy appears headed for a prolonged slump followed by only a tepid rebound.
"It is going to be a difficult paradox for the world, with the economy at the epicenter of the crisis -- the United States -- still being seen as the savior of the world at large," said Eswar Prasad, a senior fellow at the Brookings Institution.
If I speak in the tongues of men and of angels, but have not love, I am only a resounding gong or a clanging cymbal. If I have the gift of prophecy and can fathom all mysteries and all knowledge, and if I have a faith that can move mountains, but have not love, I am nothing. If I give all I possess to the poor and surrender my body to the flames, but have not love, I gain nothing. Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It is not rude, it is not self-seeking, it is not easily angered, it keeps no record of wrongs. Love does not delight in evil but rejoices with the truth. It always protects, always trusts, always hopes, always perseveres. Love never fails. But where there are prophecies, they will cease; where there are tongues, they will be stilled; where there is knowledge, it will pass away. For we know in part and we prophesy in part, but when perfection comes, the imperfect disappears. When I was a child, I talked like a child, I thought like a child, I reasoned like a child. When I became a man, I put childish ways behind me. Now we see but a poor reflection as in a mirror; then we shall see face to face. Now I know in part; then I shall know fully, even as I am fully known. And now these three remain: faith, hope and love. But the greatest of these is love.
Deoxyribonucleic acid (DNA) is a nucleic acid that contains the genetic instructions used in the development and functioning of all known living organisms and some viruses. The main role of DNA molecules is the long-term storage of information. DNA is often compared to a set of blueprints or a recipe, or a code, since it contains the instructions needed to construct other components of cells, such as proteins and RNA molecules. The DNA segments that carry this genetic information are called genes, but other DNA sequences have structural purposes, or are involved in regulating the use of this genetic information.
Chemically, DNA consists of two long polymers of simple units called nucleotides, with backbones made of sugars and phosphate groups joined by ester bonds. These two strands run in opposite directions to each other and are therefore anti-parallel. Attached to each sugar is one of four types of molecules called bases. It is the sequence of these four bases along the backbone that encodes information. This information is read using the genetic code, which specifies the sequence of the amino acids within proteins. The code is read by copying stretches of DNA into the related nucleic acid RNA, in a process called transcription.
Within cells, DNA is organized into structures called chromosomes. These chromosomes are duplicated before cells divide, in a process called DNA replication. Eukaryotic organisms (animals, plants, fungi, and protists) store their DNA inside the cell nucleus, while in prokaryotes (bacteria and archaea) it is found in the cell's cytoplasm. Within the chromosomes, chromatin proteins such as histones compact and organize DNA. These compact structures guide the interactions between DNA and other proteins, helping control which parts of the DNA are transcribed.
The underlying causes leading to the crisis had been reported in business journals for many months before September 2008, with commentary about the financial stability of leading U.S. and European investment banks, insurance firms and mortgage banks consequent to the subprime mortgage crisis.
Beginning with failures caused by misapplication of risk controls for bad debts, collateralization of debt insurance and fraud, large financial institutions in the United States and Europe faced a credit crisis and a slowdown in economic activity. The impacts rapidly developed and spread into a global shock resulting in a number of European bank failures and declines in various stock indexes, and large reductions in the market value of equities and commodities. The credit crisis was exacerbated by Section 128 of the US Emergency Economic Stabilization Act of 2008 which allowed the Federal Reserve to pay interest on excess reserve requirement balances held on deposit from banks, removing the incentive for banks to extend credit instead of placing cash on deposit with the Fed. Moreover, the de-leveraging of financial institutions further accelerated the liquidity crisis and caused a decrease in international trade. World political leaders, national ministers of finance and central bank directors coordinated their efforts to reduce fears, but the crisis continued. At the end of October a currency crisis developed, with investors transferring vast capital resources into stronger currencies such as the yen, the dollar and the Swiss franc, leading many emergent economies to seek aid from the International Monetary Fund.
The story is set in the mid-21st century. Global warming has led to ecological disasters all over the world, and a drastic reduction of the human population. Mankind's efforts to maintain civilization lead to the creation of "mechas," advanced humanoid robots capable of emulating human thoughts and emotions. Among these androids there is an advanced prototype model named David, a mecha created by the Cybertronics company to resemble a human child and to "feel" love for its human owners. They test their creation on one of their employees, Henry Swinton and his wife Monica. The Swintons have a son, Martin, who has been placed in suspended animation until a cure can be found for his rare disease. Although Monica is initially frightened of David, she eventually warms to him after activating his imprinting protocol, which irreversibly causes David to feel love for her as a child loves a parent. As he continues to live with the Swintons, David is befriended by Teddy, a mecha toy, who takes upon himself the responsibility of David's well being.
Martin is suddenly cured and brought home; a sibling rivalry ensues between Martin and David. Martin's scheming behavior backfires when he and his friends activate David's self-protection programming at a pool party. Martin is saved from drowning but David's actions prove too much for Henry. It is decided for David to be destroyed at the factory where he was built, but Monica rather leaves him (alongside Teddy) in a forest to live as unregistered mechas. David is captured for an anti-mecha Flesh Fair, an event where useless mechas are destroyed before cheering crowds. David is nearly killed, but the crowd is swayed by his realistic nature and he escapes, along with Gigolo Joe (Jude Law), a male prostitute mecha on the run after being framed for murder.
The two set out to find the Blue Fairy, whom David remembers from the story The Adventures of Pinocchio. As in the story, he believes that she will transform him into a real boy, so Monica will love him and take him back. Joe and David make their way to the decadent metropolis of Rouge City. Information from a holographic volumetric display personality called "Dr. Know" eventually leads them to the top of the Rockefeller Center in the flooded ruins of Manhattan. David's human creator, Professor Hobby, enters and excitedly tells David that finding him was a test, which has demonstrated the reality of his love and desire. A disheartened David attempts to commit suicide by falling from a ledge into the ocean, but Joe rescues him, just as he is captured by the authorities.
David and Teddy take a submersible to the fairy, which turns out to be a statue from a submerged attraction at Coney Island. Teddy and David become trapped when the park's ferris wheel falls on their vehicle. Believing the Blue Fairy to be real, he asks to be turned into a real boy, repeating his wish without end, until the ocean freezes. 2000 years later, Manhattan is buried under several hundred feet of glacial ice, and humans are extinct. Mechas have evolved into an alien-looking humanoid form. They find David and Teddy: functional mechas who knew living humans. David wakes up and realizes the fairy was fake. Using David's memories, the mechas reconstruct the Swinton home, and explain to him via a mecha of the Blue Fairy that he cannot become human. However, they recreate Monica from a lock of her hair which has been faithfully saved by Teddy, but she will live for only a single day and the process cannot be repeated. David spends the happiest day of his life playing with Monica and Teddy. Monica tells David that she loves him and has always loved him as she drifts to sleep for her final time. This was the "everlasting moment" he had been looking for, he closes his eyes, falls asleep for his first time, and goes "to that place where dreams are born".