Word: braziller
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...looking at the future, when U.S. companies will be competing not only with European, Japanese, South Korean and Chinese companies but also with highly competitive companies from every corner of the world: Argentina, Brazil, Chile, Egypt, Hungary, India, Indonesia, Malaysia, Mexico, Poland, Russia, Thailand, Turkey, Vietnam and places you'd never expect. And you can anticipate that future versions of the World Economic Forum's Global Competitiveness Index will be reflecting more rapid ascents and descents than it has in the past. The current financial crisis may only serve to speed up the process...
...past year alone, for example, Brazil, Russia and China have all moved up in the country rankings and are now lodged in the top half of the list, while the United Kingdom has fallen. One of the biggest gainers from last year to this year is Montenegro, rising from 82nd to 65th place, just behind Turkey and Brazil...
...struggling Europe is bad news for the rest of the world, since more than one-third of all foreign direct investment into countries such as China and Brazil comes from the 27-nation European Union. The E.U. with its 490 million population has also been an ever larger consumer of goods and services from Asia; last year it imported about $1 trillion worth from emerging markets alone, and China is its biggest supplier. With the U.S. economy also expected to drop off, it'll be up to Asia to generate its own growth for a while...
...Africa and Asia. In 2000, much to the chagrin of the communist government there, John Paul II canonized the first saints in China, naming 87 Chinese citizens and 33 foreign missionaries who had died in the country between 1648 and 1930. He also named the first saint from Brazil, home to more Catholics than any other country. Many within the Catholic church disapproved of the mass canonizations, which one critic calling the pope's actions "Vatican marketing decisions...
...rich countries the slump has come at a bad time. As the oil price began rising during the past few years, governments and big oil companies plowed billions into exploring and developing new fields in Russia, Angola, Mexico, Brazil and Saudi Arabia - projects whose costs have more than doubled in the past few years, in part because soaring steel prices drove up drilling equipment costs and oil-rig rentals. Just as global demand has begun to slow, millions more barrels of oil a day from new fields have hit the world market...