Word: centralization
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Dates: during 2000-2009
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...when oil prices started to rise in 2003, Saudi Arabia was ready. For one thing, the Saudi Arabian Monetary Agency, the country's central bank, had greatly expanded the number of well-trained national staffers. Second, it had at its helm officials who remembered the bad days of low oil revenues. That meant that when the oil gushers were turned up again, money was saved and not aggressively spent as elsewhere in the region. The nation's wealth was also placed in very liquid investments, predominantly U.S. government paper assets, rather than real estate. While other regional investment funds were...
...long spell out in the cold. "All of us Indians have been shocked by how long the old ideas have lasted," says Bhalla. "But now we are graduating to a sort of center-space like in Western democracies." Few can speculate the Communists' way forward - the CPI-M's central committee is set for a rancorous showdown in New Delhi next month. Nigam hopes the socialist revival in Latin America can offer ideas and inspiration for a movement in India that is short on both. But the days when the specters of a fading ideology line entire city streets...
...Russian leadership is very apprehensive about what it sees as Western moves designed to tear Ukraine away from Russia," says Dmitry Trenin, director of the Carnegie Moscow Center, an independent think tank in Moscow. "Their central foreign policy goal is to create a power center around Russia. Any move by the West towards the former Soviet republics is seen as damaging Russia's interests...
Rosales defended the legality of the bills, insisting that legislation passed in 1995 gives the Central Bank "exclusive authority" to mint and print money. The number of signatures that appear or don't appear on the money is not important, he said. Critics, however, argue that the Central Bank's exclusive authority doesn't give it creative license to invent new styles of currency that stray from the technical specifications laid out in the Monetary Law. "The government couldn't just start circulating cacao beans and say it's currency like the indigenous did," says economist Nestor Avendano. "They have...
Meanwhile, Tsvangirai accused Mugabe of making unilateral decisions in appointing senior government officials such as the attorney general, the central-bank head and diplomats. The Prime Minister's political party, the Movement for Democratic Change (MDC), has since called on the Southern African Development Community - which brokered the power-sharing deal - to mediate between it and Mugabe's party, the Zimbabwe African National Union (ZANU-PF). The MDC has accused Mugabe and ZANU-PF of stonewalling on issues like the continuing arrests of pro-democracy activists, lawyers and journalists and the ongoing invasions of white-owned farms...