6A
NEWS
THE UNIVERSITY DAILY KANSAS
TUESDAY, NOVEMBER 11, 2008
ECONOMY
ASSOCIATED PRESS
Job-seekers attend a recruiting fair in Wuhan, China, on Sunday. The Chinese government announced a SS86 billion stimulus package to boost government spending on roads, airports and other infrastructure and bigger subsidies to the poor and farmers. Despite this package, Wall Street again lost points because of anxiety.
China's stimulus package doesn't soothe Wall Street
BY JOE MCDONALD ASSOCIATED PRESS
BEIJING — China's $586 billion stimulus package is its "biggest contribution to the world." Premier Wen Jiabao said Monday, as hopes rose that heavy spending on construction and other projects would help support global growth by fueling demand for imported machinery and raw materials.
The massive Chinese spending plan — the largest ever undertaken by the communist leadership — was motivated by growing alarm from an unexpectedly sharp downturn in the country's economy, which raised the threat of job losses and social unrest.
Sunday's announcement staked out a bold position as President Hu Jintao prepares for next week.
end's meeting in Washington among leaders of 20 major economies to discuss a response to the global financial crisis.
Wen, the country's top economic official, said the plan is meant to boost investment and consumer spending, maintain export growth and promote corporate competitiveness and financial reform.
"We must implement the measures to ensure a fast and stable economic development." Wen told a meeting of government leaders, according to a report on state television. "They are not only the needs of the development of ourselves, but also our biggest contribution to the world."
The plan calls for higher spending through 2010 on airports, highways and other infrastructure, more aid to the poor and
farmers, and tax cuts for exporters. That could boost demand for iron ore from Australia and Brazil, factory and construction equipment from the United States and Europe, and industrial components throughout Asia.
Asian stock markets surged Monday on news of the plan, but world markets were mixed later in the day. Wall Street erased an early rally as enthusiasm for the Chinese package gave way to anxiety about how U.S. companies will survive a severe pullback in spending.
China's economic growth slowed to 9 percent in the last quarter, down from last year's stunning 11.9 percent and its lowest level in five years. Export orders have fallen sharply as global demand weakens, leading to layoffs and factory closures.
Nurse from famous photo to serve as grand marshal in New York parade
BY RICHARD PYLE ASSOCIATED PRESS
Edith Shain, the nurse in the famous photograph taken by Alfred Eisensteed of a sailor kissing a nurse in New York's Times Square on V-J Day, tries to imitate the photo's embrace with Nick Mayo, a member of the cast of the musical "South Pacific" as they pose with other South Pacific cast members at the Vian Beaumont Theater in City Chain, 90, is in New York to serve as the grand marshal of the 2008 New York City Veterans Day parade.
ASSOCIATED PRESS
VETERANS DAY
NEW YORK — A 90-year-old who says she's the woman being kissed by a sailor in Times Square in one of World War II's most famous photographs reunited in town with the Navy on Sunday — days before she is to serve as grand marshal of the city's Veterans Day parade.
Edith Shain of Los Angeles, donning a white nurse's uniform like the one she wore back in 1945, went to see the musical revival of "South Pacific" and posed for pictures, being hoisted off her feet on stage by five of the actors in their Navy whites.
On Tuesday, she'll ride in the parade at the head of a contingent of World War II veterans.
His picture from V-J Day became one of the 20th century's most iconic images. But Eisenstaedt didn't get the names of either party, and efforts years later by Life to identify them produced a number of claimants, says Bobbi Baker Burrows, a Life editor with deep knowledge of the subject.
The "South Pacific" event was a touching reminder of history, but very different from Aug. 15, 1945, the day Shain recalls that she joined thousands of people whooping it up after Japan surrendered. Right there on Broadway and 45th Street, a sailor suddenly grabbed and kissed her — and the moment was caught by Alfred Eisenstaedt, a Life magazine photographer.
in the subject, she recalled, "Life decided to run an article saying. If you are the sailor or the nurse in the picture, please step forward."
About 1980, Shain recalls, she wrote a letter to Life, identifying herself as the woman in the nurse's uniform. Eisenstaedt wrote back and later visited her in California and gave her a copy of the photo. But Eisenstaedt, who died in 1995, was never sure that Shain was the woman in the photo, Burrows said.
Eisensaetach himself just said he didn't know," she said.
"We received claims from a few nurses and dozens of sailors, but we could never prove that any of them were the actual people, and
Even the fact that Shain stands only 4-foot-9 isn't helpful in analyzing the photo, in which the sailor has her in what looks more like a death grip than an embrace, with both of their faces obscured.
Because of renewed interest