Word: asianized
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Where is that trust? Who can restore a fan's faith in the glory of sport? Why, the Iraqi national soccer team. Stocked with Sunnis, Shi'ites and Kurds, the Iraqis defeated Vietnam and then South Korea to advance to the finals of the Asian Cup. Iraqis crowded Baghdad streets after the semifinal win, firing celebratory gunshots (which killed one person) and being targeted by car bombs (which killed at least 50). It was, at least, a moment of passion for sport, a feeling that the corporate commissioners in the U.S. will be hard-pressed to safeguard...
Forget the "benchmarks" that Baghdad's politicians are showing little inclination to meet; the best hope in recent memory for national reconciliation in Iraq came Wednesday in the form of a shootout - not your conventional sectarian or insurgent affair, but a series of penalty kicks that settled an Asian cup soccer semifinal in Iraq's favor. Iraq's upset victory over highly rated South Korea has earned it a showdown on Sunday against - boy, do the gods of soccer ever have a wicked sense of humor - Saudi Arabia. The news drew tens of thousands of Iraqis of all stripes...
...Both Asian investors will become major investors in the British bank. If Barclays is successful, the state-owned CDB would own up to around 8% of Barclays' stock. Its investment is "by far the biggest external investment ever made by China," Barclays CEO John Varley crowed Monday. "And it's very good for Barclays...
Which brings us back to our story: in the second half of the 1990s, the U.S. had about the only healthy big economy on the planet. Especially after the Asian currency crises of 1997, which brought on a deep regional depression, there just wasn't much demand for money outside the U.S. There also wasn't much demand for that other crucial economic fuel--fuel. As a result, the long-term rates set by the market stayed low, and falling prices of oil and other commodities allowed the Fed to keep short-term rates down even as the U.S. economy...
...refinancings and home-equity loans also kept consumer spending strong. By mid-2004, confident that deflation was out of the picture, the Fed began raising rates again. But the longer-term interest rates, the ones controlled by investors, stayed stubbornly low. The most plausible explanation went something like this: Asian governments and consumers, still shell-shocked from the crises of the 1990s, were saving instead of spending and sending much of those savings...