Word: cheaping
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...particularly painful in Asia. The vast majority of countries in the region are net importers of oil. Only Malaysia and Vietnam are able to produce enough crude to be net sellers. In addition, several Asian governments for years have spent billions of dollars subsidizing fuel costs to keep it cheap for their poor and often quarrelsome citizens. But oil is now so expensive that subsidies and price controls are increasingly impossible to maintain. Over the last two weeks, India, Indonesia, Malaysia, Pakistan and Sri Lanka have announced they are reducing or eliminating subsidies. At oil's current price level, Malaysia...
...Urban - and chauffeured - versions of these tours are available in Paris with 4 Roues Sous 1 Parapluie (www.4roues-sous-1parapluie.com). The wry name - "Four Wheels Beneath an Umbrella" - recalls the brief given to the original 2CV designers, which was to create a cheap car for the masses. Tours include hotel pick-up, and take in the French capital's major sights as well as lesser-known attractions such as the Cité Fleurie - a 19th century artists' quarter. There are also romantic night tours that are especially popular with couples. But do remember to whisper in your partner's ear when...
...cheaper thin film eats into the share held by crystalline silicon. "I've had three tours of combat, and this is more exciting than that," says Global Solar's Gering, standing on the floor of his new factory. "I'm a true believer." A limitless supply of clean, cheap energy--if thin film can deliver that, who wouldn't believe...
...ecological responsibility, the fund insists, is key to safeguarding its own financial returns. Take children's rights. If children are denied schooling and forced to earn a living prematurely, they grow up to be less productive workers with fewer skills. While a current employer may benefit from their cheap labor, future employers will lose out. For Norway's fund, it's a concern - both ethically and economically - that "the action of one company may influence the profitability of another," says Yngve Slyngstad, CEO of Norges Bank Investment Management, the part of Norway's central bank that runs the fund...
...American TV personality Kathie Lee Gifford had been produced using child labor in Honduran sweatshops. Gifford sobbed on air, saying she hadn't been aware of conditions at the factory. For corporations and consumers alike, it brought home the realization that globalized production comes at a price: the cheap labor that lured multinationals to developing countries often goes hand in hand with less appealing hallmarks of developing nations - harsh working conditions and unenforced labor laws. Governments in most developing nations weren't monitoring conditions, so Western firms found themselves "held responsible for problems they didn't really know existed," says...