Word: asia
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Dates: during 2000-2009
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...Credit markets are one worry; another is whether the rest of the world will be able to breeze along despite the U.S. slowdown. There are lots of signs that it'll be just fine, thanks. For the emerging economies of Asia, Africa and Latin America, these past five years have seen the best growth run in memory, and so far signs of slowdown outside the U.S. and Europe are few. India and China are posting astonishing growth numbers, while economies of countries from Africa to Latin America that export raw materials, like oil from Nigeria and copper from Chile, have...
...news. Exporters would benefit, though they account for only 12% of the economy. A gradual global slowdown would also give the Fed far more room to maneuver without the threat of stoking inflation. But there are downsides too: the U.S. would see high energy prices as Asia's demand for oil kept soaring, a continued dollar slump as low interest rates made it less attractive to hold dollar-denominated securities, and the threat of rising inflation as a weak dollar made imports more expensive. And a global recession (generally defined as growth of less than 2.5%; since the Depression, global...
...Forget all the talk about the "decoupling" of emerging economies, the theory that countries like China and India are no longer dependent upon U.S. trade and can continue to power strong global growth even as the U.S. staggers. "There's no question the slump in the U.S. will hurt [Asia's] exports badly," says Shanghai-based independent economist Andy Xie. Indeed, demand for such diverse goods as iron ore mined in Australia and toys manufactured in China is already slowing, because for the first time in a decade the "key driver of the U.S. economy, the consumer, seems to have...
...revenue. But by freezing out Singapore Airlines, CAAC officials signaled that they have decided to close ranks around their domestic carriers - potentially shutting off the fast-growing China market to foreign carriers eager to expand their connections to the mainland. Says Richard Pinkham, an analyst at the Centre for Asia Pacific Aviation, a Singapore-based consultancy: "The regulators had clearly decided to go a different direction than the one the [Singapore] deal offered...
...carriers such as Air China and China Eastern. Air China has little expertise to lend its potential new partner when compared with Singapore Airlines, which is known for top-flight service. "Bring in Singapore, and you can be confident service levels will go up," says Pinkham, the Centre for Asia Pacific Aviation analyst. "With Air China, the improvement is a lot less certain...