Word: actioneers
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Some argue Bretton Woods and the International Monetary Fund (IMF) and World Bank it created should have undergone revamping even before the crisis broke. Initially tasked with overseeing currency exchange rates and providing funds and advice to nations suffering trade deficits, the IMF has watched its field of action wane as economies developed and globalized. As part of that evolution, financial trading began spanning borders and generating previously unimaginable transactions through highly-leveraged and complex derivatives - all within a virtually unregulated atmosphere that national governments couldn't manage to police. Sarkozy and his European partners hope that...
...think [domestic spending] will replace what has been lost in exports," says UBS economist Wang Tao. Nor will it offset another weakening pillar of China's economy: real estate. Rampant construction of new office towers and apartment blocks in recent years was a huge boon to growth. But government action to cool down the market, by, for example, restricting credit for property development, is resulting in a sharp falloff in construction. After 35% growth in real estate investment in the first half of the year, Wang estimates that growth dropped sharply to some 20% in July and August. The property...
...Government action could shield the Chinese economy from the worst of a global slump. Indeed, economists currently say China ought to remain a relatively bright spot amid the economic gloom. Merrill Lynch estimates that China will account for 40% of world GDP growth in 2009. Continued strong Chinese demand for raw materials, machinery and consumer goods is expected to prop up other Asian economies - the region as a whole is projected to dodge a recession next year...
...even more sweeping reforms than the IMF called for. By the time the storm had passed, some of South Korea's biggest companies had disappeared. Mighty Daewoo, one of the Big Four chaebol, was dismembered and its founder prosecuted. But others used the crisis as a spur to tough action. Samsung Electronics boss Lee Kun Hee, his back to the wall, browbeat top executives into rethinking the company. A decade later, Samsung is a global powerhouse with design and technology sophistication that was impossible to imagine at the time. Hyundai Motors, too, endured the crucible and emerged stronger...
...Malaysian Prime Minister Mahathir Mohamad was slammed by most orthodox economists for pegging his currency and slapping on capital controls when the crisis hit to defend the ringgit. While Mahathir's anti-Semitic diatribes against hedge funds and currency traders were off the mark, his radical action bought Malaysia time and almost certainly saved it from the worst ravages of the crisis...