Word: asia
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Dates: during 1990-1999
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...Europe, Southeast Asia and all sorts of places in between, something remarkable is happening. New, carbon-free energy technologies that do not rely on fossil fuels are moving from experimental curiosity to commercial reality, economically turning sunlight, wind and other renewable resources into useful forms of energy. Although the new devices provide less than 1% of the world's energy, they are advancing rapidly. If the negotiators wrapping up their 10-day meeting in Kyoto this week are looking for an engineering solution to the problems of global warming and climate change, these technologies could provide the blueprint...
...have a few sneezes left. "For a while, the fall sell-offs looked to have done their job," says TIME's Wall Street columnist Daniel Kadlec. "They let the air out of the stocks that needed it. Since then, everything is back up where it was, yet the Asia problems are still there...
...Look for winter and spring to be seasons of discontent. Kadlec calls the Oracle loss "definitely a forerunner." A lot of U.S. technology companies lost business in Asia. They just haven't told...
...been ringing for years. Worse still, because there was no public scrutiny of the iron triangle of bureaucrats, businessmen and bankers, the natural coziness that developed in that clique led inevitably to decisions based on personal relations. At best this was inefficient, at worst corrupt. The financial crisis facing Asia today is merely a symptom of a much deeper problem. The social and political assumptions on which the Asian model was founded are terribly outdated. The global economy is far too complex and fast paced for any bureaucrats to control. The only miracle in Asia is that this approach worked...
...JAPANESE THREAT The world's second largest economy, in a severe slump for most of the '90s, could get pushed into depression by the financial crises in Southeast Asia, which gets nearly 40% of all Japanese exports. More alarming, roughly one-third of all loans in Southeast Asia--many now in default--came from fragile Japanese financial institutions. Says University of Chicago political economist Marvin Zonis: "To raise needed liquidity, they might sell their holdings of Treasury securities." Since Japan owns more U.S. Treasury debt than any other nation (more than $300 billion), a sell-off would cause U.S. interest...