Word: bankes
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Dates: during 2000-2009
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...elections in just over a year. In Germany, Angela Merkel's governing coalition is coming under increasing strain, with elections just six months away. And then there are the street protesters who will be vying for the spotlight. Large protests - against everything from capitalism to the structure of bank bailouts - are planned for both London and Strasbourg...
...this means fashion lovers are cutting back on spending. "Right now we are seeing signs of de-premiumization - meaning that shoppers are trading down for cheaper items," says Victoria Grankina, a retail analyst at leading Russian investment bank Troika Dialog. "Overall, the luxury market really struggled in December and January, since the consumer was feeling quite under the weather. In March, we have been seeing some signs of stabilization, but we are not sure this is a trend. No one can predict when this will end." (See pictures of Paris couture...
...city-state has its defenders. "Dubai-bashing is in fashion right now," says Hassan Jarrar, head of wholesale banking for Standard Chartered Bank in Dubai. "Like most governments, the U.A.E. wants to limit the fears of not just the people inside but also external investors. Are they understating the problem? I don't think so." He insists that "the difference between Dubai and Singapore or Shanghai is, in Dubai, when cranes leave site here, they leave when construction is finished." A trip down Sheikh Zayed Road, Dubai's main thruway, named after the U.A.E.'s founder and first President, reveals...
...leading advanced industrial economies, who have their own club in the G-8, but also "emerging market" nations such as India and China, together with middle-income economies such as South Korea and Mexico. Together, the 19 nations (plus the European Union, which explains the 20 - though the World Bank and IMF are also members of the G-20, just to confuse things) account for about 90% of world GDP, 80% of world trade and two-thirds of the world's population...
...Reform of international financial institutions. The World Bank and IMF originated in planning for post-World War II economic reconstruction, and there is broad agreement that their mandates need rethinking. The IMF needs a fresh injection of cash if it is to help stabilize economies in a mess, and developing world nations - who will lead the recovery, when it comes - are campaigning for a greater role in shaping the priorities of these institutions. Expect the issue to be punted downfield for further discussion later in the year...