Word: asia
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Dates: during 2000-2009
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...Therein lies a critical challenge for Asia. Unless it comes up with a new source of demand to support its export-led growth model, Asia will face stiff and enduring headwinds. Nowhere is this more evident than in China, where the mood has turned particularly upbeat. While I no longer doubt that China's performance will be better than expected in 2009, there is good reason to be wary of extrapolation. China's incipient rebound relies on a timeworn stimulus formula: upping the ante on infrastructure spending to support growth in anticipation of a return of global demand for Chinese...
...export-led China doesn't get a kick from the American consumer, a relapse for China-dependent Asia is a distinct possibility next year. Don't be fooled by catchphrases such as "green shoots" and the "Asia century." In the aftermath of the modern world's worst financial crisis and recession, an Asian-led global healing remains a real stretch...
...Stephen Roach is chairman of Morgan Stanley Asia and was the firm's chief economist...
Based in Edmonds, Wash., Steves spends four months a year on the road. He has spurned offers to expand his business beyond Europe to include Asia, Africa or Latin America. He thinks of Europe as a good "wading pool" for U.S. citizens to try before they jump into deeper waters elsewhere on the globe. Meanwhile, just keeping his guides current, he says, "requires focus rather than mission creep...
...According to Gautier, stallholders on Sukhumvit are not the main beneficiaries of transactions like mine. Criminal gangs are behind Asia's black market in fake goods, and misguided shoppers like me inadvertently support child labor, human-trafficking and other nefarious undertakings by indulging in the cheap goods. The directness of the revelation is sobering. "Money spent on counterfeits is easy profit for criminal organizations," the soft-spoken French native insists, "and supports other activities like prostitution and drugs...