Word: asia
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Dates: during 2000-2009
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...Asia is doing what the West cannot do despite political and military divisions among many of them that go back decades. Nations in the region are building a coercive plan to protect the region's financial stability. (See pictures of the global financial crisis...
...There is a temptation to compare this new facility to the IMF, but that analysis would miss the move toward a financial alliance that will help serve to bring Asia together as a single, loosely formed economic entity lead by China and Japan, two of the four largest countries in the world as measured by GDP. The program makes the region financially stable, probably more stable than Europe is now with its rising unemployment, stagnant economies, and sovereign debt which faces downgrades in many cases. (See pictures of Obama's recent trip to Europe...
...alliance among the nations that support the military cooperation of NATO has not extended to a set of economic bonds that are even more important as the global financial crisis claims victims in countries such as Ireland and the old Eastern European block. That gives Asia an advantage as the recession continues...
...growth of 3.6% a year. But as consumers tightened purse strings and canceled vacations in the second half of 2008, tourism's contribution to the world economy grew by just 1%, the industry's worst performance since the bursting of the high-tech bubble, the outbreak of SARS in Asia, and the terrorist attacks on 9/11 hit international travel earlier this decade. "The last months have been increasingly challenging," says Jean-Claude Baumgarten, president of the World Travel and Tourism Council (WTTC), an organization of travel executives, "and we clearly haven't seen the end of it yet." (See pictures...
...swine flu cases rose on Friday - with 141 confirmed cases in the U.S., 397 in Mexico, including 16 deaths, and the first case confirmed in Asia - the strongly held consensus among health officials remains that borders should not be closed. (Americans are advised, however, to avoid nonessential travel to Mexico.) Grounding travel would do nothing to stave off a full-fledged pandemic and, despite any ill-considered advice from Vice President Joe Biden, there's no risk for a healthy person in the U.S. to take mass transportation, but the truth is that many travelers these days are still feeling...