It is the investing approach of the day, meaningful mostly because fund managers want to distance themselves from the widely held view that unit trusts in Asia used to concentrate more on industries than companies, letting the region's strong growth pull them along regardless of the inherent quality of the companies selected.

CNN: SAFE PORT IN A STORM

The decisions on whether or not a pledge has been met do not include judgements as to the inherent value of any of the pledges or the quality of its delivery.

BBC: Analysis: Labour's pledges

There is much to be debated about the quality of the data Mr Summers cited and the inherent logic of his remarks.

ECONOMIST: Summers's reign