Word: asia
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Dates: during 1990-1999
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Sinai is most worried by "a very intense and unprecedented global credit crunch and balance-sheet contraction" that seems to be getting steadily worse. He runs down a kind of box score: nine of 13 countries on the Pacific Rim of Asia that once accounted for a third of world output "are in depression or recession, and we're still counting"; Japan, the world's second biggest economy, "is still going down--it looks like a drop of 2% this year"; in Latin America, Venezuela and Colombia are in recession and Brazil is "in a very dicey situation," saddled with...
...anything stop the financial panic that has swept from Asia to Russia to Latin America? On Wall Street last week, jittery traders dismissed the Federal Reserve's quarter-point cut in interest rates as too puny and sent the Dow Jones industrial average plunging 448 points in two days. In Washington State, farmers watched helplessly as their grain piled into huge drifts for lack of Asian buyers. In slumping Brazil, Ford and General Motors, which only recently completed new plants in the country, had to cut production drastically. And the future could be grimmer still, according to the International Monetary...
...days; and of course tech bellwether Yahoo, down 25 points since Tuesday alone. All four were perking up Friday -- has the sector stopped bleeding? "It depends," says Schwartz. "More earnings reports are due the next few weeks, and then we'll know." Considering the still-sorry economic state of Asia, which remains the sector's feast-or-famine export market, we may know already...
Ramos-Horta began by discussing how much had changed in East Asia and Indonesia recently...
...Long Term Capital suddenly lose money after years of winning? Short answer: the fund's investing formulas were blindsided by the financial meltdown that has spread so rapidly from Asia to Russia and Latin America. In essence, Meriwether's computers were programmed with historical relationships among various global bond yields and other financial instruments. They looked for discrepancies in those relationships and bet that they would return to their historical norms. But the deepening global crisis caused a flight to the safety of U.S. Treasury bonds, which drove up prices that Meriwether's computers said should be falling. The resulting...