Word: braziller
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...million earlier this year. Here was an icon of American fashion, the man who gave the world designer denim in the '70s and put underwear over the top in the '80s, a mere spectator at the debut of his designated successor, a virtually unknown 32-year-old from Brazil named Francisco Costa...
...tech industry that hasn't rebounded this summer: satellites. In July Boeing booked a $1.1 billion charge against earnings for its scandal-marred military business, and former stalwart Loral Space & Communications filed for bankruptcy. Then in August a launch disaster in Brazil killed 21 technicians and jeopardized that country's program. "Unquestionably, the commercial-satellite market is depressed right now," says Chris Mecray, an analyst at Deutsche Bank. From 1996 to 1998, satellite sales grew 49.4%, but they have shrunk 2.4% in the past four years. Worse, hurt by the telecom bust and tough export rules, U.S. market share...
Emerging markets should do well as more capital becomes available. Countries like Brazil and Russia are volatile investments, but they're a pure play on global growth and worth 2% to 5% of your stock portfolio. Consider diversified mutual funds such as Acadian Emerging Markets and Vanguard Emerging Markets...
...criticized. They helped Western banks get repaid but left developing countries with bigger debt burdens. Indeed, the bailouts may even have contributed to the problem of debt crises, by inducing bad lending practices. The failure in the last six years of the mega-bailouts - in Thailand, Indonesia, Korea, Russia, Brazil, Argentina - made it apparent that an alternative is needed. Since the '80s, alternatives have been proposed - allowing nations to declare bankruptcy and standstills in the same way that individual debtors who cannot meet their obligations are permitted to have a fresh start, or at least reschedule payments. But these were...
...policies in East Asia, even the Fund recognized that it had pushed fiscal austerity too far. Yet it went on to make the same mistake again in Argentina (which last week reached a deal with the IMF to refinance some $21 billion in loans). On the positive side, in Brazil, it pursued more reasonable stances. Improved transparency of financial markets In the aftermath of the East Asia crisis, there were demands for increased transparency on the part of developing countries. Although the crisis stemmed more from imprudent financial and capital market liberalization than from a lack of transparency, the call...