Word: asia
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Dates: during 2000-2009
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...Partners. "Lots of Afghans see the U.S. presence as an occupation, and I can easily see how some of them would be motivated to strike at the U.S. wherever they can." If Grenier is right and the Taliban has joined al-Qaeda in taking the fight beyond central Asia, Western authorities will need to widen the scope of their operations at home and abroad. "If he's Taliban, then it greatly expands the universe of people you want to put under surveillance," says Bill Rosenau, a counterterrorism expert at the Rand Corp...
...exaggerates genuine security concerns, he says, noting that agency regulations prevented key personnel from accompanying even members of Congress who traveled there to examine aid projects. But other observers say the problems go far beyond security issues. For Shuja Nawaz, a Pakistan security expert and director of the South Asia Center at the Atlantic Council in Washington, the core of USAID's shortcomings is that it has outsourced "its thinking, planning and local interactions with the recipients" to Beltway contractors who are more incentivized to keep money flowing than getting results on the ground. In one case, a firm that...
...Pittsburgh, during which it was decided that the group, which includes developing giants like China and India, would replace the West-dominated G-8 as the top coordinating forum for the world economy. While the U.S. and U.K. struggle to recover from the worst recession since the 1930s, Asia's economies, led by a resurgent China, are emerging from the downturn much more quickly, presenting more enticing business opportunities for HSBC and other global banks. HSBC's decision is also another signal that London may be losing some of its luster as a global financial capital...
...Meanwhile, HSBC's Asia businesses continue to thrive. In the first half of 2009, its regional operations notched a pretax profit of $4.5 billion, more than half of it coming from Hong Kong alone. The bank is also continuing to expand in Asia. In China, where HSBC already has the largest branch network of any foreign bank, it is considering an initial public offering of stock on the Shanghai exchange. In May, HSBC completed its acquisition of Bank Ekonomi in Indonesia, almost doubling its number of outlets in that country...
...HSBC isn't completely turning its back on the West. Green, the chairman, will remain in London, as will HSBC's official world headquarters. Yet HSBC's return to Asia is still an important signal of where the bank and the world economy believes it will find new growth. "The self-styled 'world's local bank' is realizing some locales are more important than others," noted an editorial in the South China Morning Post, Hong Kong's largest English-language newspaper. "It has taken an extraordinary financial crisis for the bank to see that its future lies where its roots...