Word: asia
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Dates: during 2000-2009
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...financial meltdown slammed into South Korea in September, Kim nervously watched cash-starved golfers dump their memberships on an Internet site that tracks their value, sending prices plummeting. The country, he became convinced, was about to suffer a financial crisis even worse than the great conflagration that engulfed Asia in 1997, when a near bankrupt South Korea turned to the International Monetary Fund (IMF) for an emergency bailout. Fearing his investment would completely evaporate, he sold the membership in October for $190,000. In 1997, says Kim, "the crisis involved only a few countries. Now it has come from...
...happened around the world, the panic that began on Wall Street has seeped into the minds and hearts of South Korean businessmen, bankers and housewives, who fear the consequences of an impending global recession. With the country heavily reliant on exports, South Korea, like the rest of Asia, cannot escape the fallout from a U.S. downturn. Goldman Sachs predicts GDP growth will sink to 3.9% in 2009, the lowest since...
...panic-stricken behavior makes perfect sense in light of the nation's recent history. Of all of the amazing growth stories in Asia's economic miracle, South Korea's is probably the most miraculous. In a mere generation, the country transformed itself from an impoverished backwater living on American aid to a globally competitive manufacturer of microchips, cars and flat-screen TVs. Any setback to that progress is taken with grave seriousness. During the 1997 crisis, office workers, too ashamed to tell their families they had lost their jobs, donned business suits each morning only to hide...
...only committed to eliminating extremism, but that it is also invested in regional development. It might even raise America's image in Pakistan; at last count, the U.S. received a 19% approval rating, compared with bin Laden's 34%. Peace would free up vital trade routes to Central Asia that would not only enrich Afghanistan but open markets in India to Pakistani products and resources...
...behind the shaman's burial probably helped bind people together at a time of great social transformation. The Natufian culture, she says, was "transitional," moving from the era of the nomadic life of hunter-gatherers into a more stable, sedentary mode. Their descendants were likely the inhabitants of West Asia's great kingdoms of antiquity. Somewhere beneath our vision of sceptered monarchs in their pillared palaces, it can be surmised, rests a hobbled woman upon a bed of tortoise shells...