Word: asia
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Dates: during 2000-2009
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...TAKE ME TO ASIA...
...rebound once a recovery is in progress. Americans are starting to save more, and they may not return to their free-spending ways for years. "There is good reason to believe the capitulation of the American consumer has only just begun," said economist Stephen Roach, chairman of Morgan Stanley Asia. Ajay Chhibber, director of the Asia bureau at the United Nations Development Program in New York City, says the tigers can't expect to weather this recession by temporarily increasing government spending to boost growth until Western export markets recover. "The model where you stimulate and [then] go back...
...tigers really want to thrive, the answer might lie in rejecting a legacy of Park Chung Hee: the idea that government alone can successfully engineer high economic performance. Jim Walker, an economist at the research firm Asianomics in Hong Kong, argues that Asia's politicians still intervene too much in their economies instead of allowing market forces to work. "What governments need to do is start trusting their own people rather than hoping the West is going to get it right all of the time," Walker says. For the tigers to keep roaring, they may need to find their future...
...subject of books (how strangely they read now) predicting it would overtake the U.S. as the world's No. 1 economy, must cope with a resurgent competitor to its east. China's economic model is now admired around the world as a model, as Japan's once was. Asia has never seen a time when both China and Japan were simultaneously strong. That does not mean such a state of affairs is impossible; it does mean that both nations will need wise leaders if they are not to turn into bitter rivals. (It is not a small point...
...normal country with a sense of its own interests seemed likely to make him an awkward partner for the U.S. For example, Ozawa recently suggested that under a DPJ-led government the presence of the Seventh Fleet, based at Yokosuka, would be "enough" U.S. military for East Asia - a remark that implied that all other U.S. bases in Japan should be closed. While he says that the relationship with the U.S. is "the most important that Japan has," Ozawa puts some daylight between himself and Washington. He told TIME: "When it comes to an exercise of military power which will...