Proponents of neo-authoritarianism in China believed that in order to progress towards greater democracy, China needed strong, enlightened leadership that would keep the party in power during the long process of economic and political restructuring.
In 2009 the Obama Administration pushed through a brazenly political restructuring of bankrupt General Motors and Chrysler, and huge payoffs were made to the United Auto Workers, a pro-Obama union, at the expense of bondholders.
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Mr. Wen is expected to make another appeal for economic and political restructuring, but he is now widely regarded as a lame duck as he is entering his final year as premier and his repeated calls for reform have failed to translate into policy over the last two years.
So the industry has the political muscle to stymie restructuring programmes.
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In this connection, some observers believe that the Jaruzelski regime may be cynically offering the opportunity for expanded political participation to Solidarity and other such organizations at a time when radical economic restructuring will necessarily spawn economic hardship and fierce political resentment on the part of the Polish people.
Noting that short-term fiscal balance can be restored fairly easily, while long-term fiscal restructuring will require strong political will and will probably have to wait until after the 2013 elections.
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Much of the early political reaction to the company's restructuring came from the affected states, particularly Michigan, where Ford is based.
Also there is increasing political uncertainty in Germany over the Greek debt restructuring.
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All the same, governments whose citizens still have much to gain from restructuring often appear to lack the political will for it.
In Europe, euro-zone finance officials and Greek political leaders agreed on a new bailout and debt restructuring for the Mediterranean country.
China's current political system, however, cannot sustain the pace of necessary economic restructuring.
Immense though they are, from short-term issues of deflation and yuan devaluation to long-term ones of industrial and financial restructuring, these are in fact the main reasons why political reform looks necessary.
Despite the current recovery, the party could lose its functioning majority amid the political crosscurrents sweeping the country, which is torn over foreign policy as well as domestic restructuring.
The failure, caused by political hostility and weak nerves, has been a big blow to the cause of industrial restructuring in Germany, and to the idea that shareholders, rather than politicians, trade unionists and managers, should have the final say in a company's future.
Cornyn is basically trying to force Obama to take political risks the GOP itself is unwilling to take (that is, outline entitlement cuts and restructuring), while directly threatening the economic chaos that would ensue when the government stops meeting its obligations.
But we should also recognize that the restructuring process is just beginning, and will take considerable time, technical skill, and political resolve to complete.
The most urgent solutions, such as restructuring Greece's debt or building a protective barrier around Italy, require the most political courage something that Angela Merkel, Nicolas Sarkozy et al have yet to exhibit.
Some observers speculate the bank has had its own agenda: A harsh money policy would force fundamental restructuring of Japanese companies and banks and perhaps even push politicians to begin reforming their deeply corrupt political system.
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