Word: booms
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...trades often culminate with the exchange of cash for paper shares at a local tea shop. Think of it as an amorphous eBay for speculators, an ad hoc gray market that sprouted spontaneously from the pent-up desire among the Vietnamese to cash in on the country's economic boom. "It's the Wild West," says Noritaka Akamatsu, the World Bank's lead financial economist in Hanoi...
...gold bars that were hidden in their modest homes. "Society was not in favor of rich people," says Pham Chi Lan, an economist in Hanoi. "They did not dare expose their wealth." Today, BMWs and Mercedes are frequently seen on the streets of Hanoi, and there's a construction boom of luxury villas. The annual publication of a list of the country's richest people seems like just another capitalist milestone for a modernizing economy. After all, "in the world of business, people need to know where they stand," says Truong Dinh Anh, a division director for FPT Corp...
...number of U.S.-based nonprofits has grown at twice the rate of for-profit ventures in recent years. And it's no coincidence this surge is happening as the huge and famously antiestablishment baby-boom generation starts to rattle another cage. You may be getting the itch...
...Japan is still pinned beneath $6.9 trillion in public debt, and that's 1.5 times the nation's GDP, the worst ratio in the industrialized world. A widening gap between rich and poor is threatening to shatter Japan's view of itself as a predominantly middle-class country. The boom in the big cities has yet to be felt in the nation's heartland. China's rise is challenging Japan's economic predominance, with China already spending more than its rival on defense and R&D, for example. And Japan's population is graying fast, leaving working-age Japanese...
There have been times, especially during the late 1990s tech boom, when some business folk in the area thought they had outgrown their rich uncle. But their post-2000 experience, when other tech centers floundered but northern Virginia boomed, taught them otherwise. "You had your stable base coming from government contracting, and then you had this explosion around telecom, IT and the Internet," explains former Virginia Governor Mark Warner, who was a co-founder of Nextel and later a venture capitalist. "Then, after the bubble burst, you had this unfortunate need to build a homeland-security industry...