Word: asia
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Dates: during 2000-2009
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...investment and privatization - moves that have been anathema to his socialist-leaning PPP. The pro-business Muslim League may prove useful. "At this point in time, given the state of the economic crisis, it actually makes sense to have a coalition between these two parties," says Samina Ahmed, South Asia project director of the International Crisis Group. "The workers have a voice in government as much as the industrialists, traders and the business community." If they can work together, she says, they may be able to form a compromise that pushes the economy forward...
Over the past several decades, Asia has produced numerous economic miracles as nations transformed from impoverished backwaters into global competitors. But one miracle that has received scant attention has been the way the region in the first half of this decade has enjoyed generally rapid growth - headlined by booms in China and India - without awakening the beast of inflation that so often roars when economies get overheated. From 2003 to 2007, Asian economies (not including Japan) expanded at an average annual rate of 8.1%, triple that of advanced economies. Over the same period, inflation in Asia averaged a relatively mild...
...beast is back - and Asia could be headed into turbulent economic times. Merrill Lynch says that in May, the average inflation rate throughout the region reached nearly 7%, led by spikes in oil and food prices. That was sharply higher than the 2.5% rate in May 2007 - and that's just the regional average. In India, inflation jumped to an 11.6% annual rate in June, according to the latest government figures, the highest in 13 years. In Vietnam, one of Asia's fastest-growing economies, inflation has reached as high as 27% in the past few months...
...Policymakers and central bankers are scrambling to raise interest rates and tighten credit to get inflation under control. But these same measures suppress the investment and consumption that generates growth, threatening to put the brakes on Asia's unusually fast and relatively untroubled expansion. Glenn Maguire, chief Asia-Pacific economist for Société Générale in Hong Kong, estimates that GDP growth in East Asia (excluding China and Japan) could sink from about 6.5% this year to 5% in 2009, the slowest rate since 2001. Inflation, Maguire says, "is the largest risk to Asian growth...
Davies says the runner was scheduled to return to Malaysia with the other Asia-based athletes just a few days after she disappeared. Although she could still wind up competing at the Olympics, Davies says that every passing day makes it more likely that Afghanistan will have no women at the Games...