Word: boom
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Dates: during 2000-2009
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...Read about the boom in adult single mothers...
...demand - are likely to find huge opportunities for growth once the economy recovers. That's partly why there's so much riding on the Administration's plans to revamp GM - and why it had better happen fast. If U.S. automakers don't take advantage of the coming car boom, the rest of the world will. See pictures of Detroit's decline...
...World Bank announced yesterday that these remittances to developing countries would likely shrink this year by 8%, after rising 9% in 2008 and 16% in 2007. Nieves Miguelita M. Yabao, from Demaguete City in the Philippines, came to the gambling mecca of Macau during that city's recent construction boom. But when she arrived, she discovered the job she had been promised working at a casino lounge was no longer available. "I haven't been able to send money home," she says. "Home has been sending me money and [my family say] there's no food...
...towers of Dubai have been hardest hit. The large foreign banks that had been financing Dubai's real estate boom have pulled out, leaving behind a significant burden on local banks, who have turned to the U.A.E. government for help shoring up their liquidity. To date, approximately $15 billion of federal money has been pumped into local banks. Company buyouts financed by Abu Dhabi - the capital of the U.A.E. and the only emirate with petroleum wealth - are believed to be forthcoming, though no officials will discuss details. "Any bailout from Abu Dhabi will come very privately," says Christopher Davidson, author...
...downturn. Rents, which were at unbearable highs last summer, have now plummeted at least 25%, and property prices are down as much as 50% since August of last year. But while there is some respite from the dawn-to-dusk hammering and drilling that came with Dubai's construction boom, some $8 billion in projects have now been either scrapped or put on hold. The city's notoriously brutal traffic jams have eased somewhat in recent weeks since the reported exodus of thousands of expatriates, who make up more than 85% of Dubai's population. The departures, however, could also...