Word: asia
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Dates: during 2000-2009
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This year, the White House issued a statement to accompany the declaration of the date of Veterans’ Day: “From the fields and forests of war-torn Europe to the jungles of Southeast Asia, from the deserts of Iraq to the mountains of Afghanistan, brave patriots have protected our nation’s ideals, rescued millions from tyranny, and helped spread freedom around the globe.” This sentimental patriotism, while to some extent valuable, must be accompanied by an insightful, even-handed interrogation of our history...
...While the short-term boost that the plan would give to China was the center of attention in Asia on Monday, some analysts said the move marks a significant turning point in the development of China's economy that will be felt for years to come. "I think in a decade, we'll be looking back at this moment and saying, 'This was it. This was when things really changed and China's economy transitioned from externally, export-oriented to an internal focus,'" says Ben Simpfendorfer, a China economist with the Royal Bank of Scotland in Hong Kong. He Liping...
...Waiting for this to happen has been like watching a slow-motion train wreck," says Ken Conboy, author of The Second Front: Inside Asia's Most Dangerous Terrorist Network. "They should have limited their exposure...
...part with their money. Las Vegas Sands has also been grappling with an unexpected problem: China's government is increasingly alarmed by the profligacy and gambling debt of its citizens. China recently imposed visa restrictions on mainland tourists to Macau, reducing the anticipated cash flow from Las Vegas Sands' Asia operations. According to Daniel Renshaw, a Sydney-based gaming analyst with Merrill Lynch, these twin challenges will be difficult to surmount. "They are relying on an increase in revenue in Las Vegas and Macau over the long term," says Renshaw. "That seems to me a precarious position...
...Despite financial woes worldwide, H&M, with more than 1,600 stores in 30 countries, is pressing ahead with its expansion in the Asian market. Same-store sales for H&M worldwide were down 2% in September, but overall sales were up 10%. The brand opened its first Asia stores in Shanghai in April 2007 and in Hong Kong in March 2008. In Tokyo, a 2,800 sq-ft full concept store in Shibuya and a shop in Shinjuku are slated to open next fall, helping keep the company's pace of expanding stores by 10% to 15% annually worldwide...