Among industries, the most aggressive growth rates are shown by the financial sector and data-intensive science, with compounded annual growth rates (CAGRs) of 95 percent and 70 percent, respectively.
But compare it with Wal-Mart, Chung says, which is in a slow-growth, capital-intensive business and trading at 29 times free cash flow.
As I pointed out in an earlier column in Slate , the growth of labor-intensive exports from Third World countries, a development possible only because those countries are able to offset their disadvantages by competing on the basis of cheap labor, has brought about a huge improvement in the human condition, even if the wages look miserably low by our standards.
The short answer is that European growth has become relatively more job-intensive.
Their argument is that the exponential growth in web usage, particularly bandwidth intensive video applications, along with the rise in infrastructure costs, means that their business has become more costly.
The right response to that, though, would be to curb pollution and try to alter the pattern of growth to make it less resource-intensive, rather than to control population directly.
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As these and other policies boosted savings by constraining consumption, other policies, like those aimed at engineering massive loans to capital-intensive manufacturing at very low interest rates, forced rapid growth in domestic production.
Meanwhile, import growth should slacken as firms reduce the pace of import-intensive stockbuilding.
Putting trade restrictions on carbon-intensive imports would lead to trade wars that would prove counterproductive to economic growth and the environment itself.
Clearly, Cree is a large part of a hot industry, and its LED lighting products are likely to continue to show robust growth as more households and businesses switch over from more energy intensive incandescent bulbs.
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And while it is illegal to give poultry hormones in the United States, antibiotic use to promote animal growth, as well as to prevent disease, is nearly universal in intensive farming and ranching of animals.
But unlike the rest of China, where a manufacturing boom in recent years has been the biggest engine of rural-income growth as poor farmers flock to the factories, Tibet has little in the way of labour-intensive industry.
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