Word: consumerized
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Today, the tigers are being tripped up by that same lifeline. As consumer and industrial demand dries up in recession-wracked Western countries, East Asia's export-led nations are proving to be extremely vulnerable to a synchronized global slowdown. Among the tigers, overseas trade is shrinking with frightening speed...
This Time It's Different Asia has suffered recessions before, of course, and bounced back strongly. But this downturn is different. Unlike during recessions in 1997-98 and 2001-02, Asia's favorite customer - the American consumer - appears to be making profound changes in his purchasing habits. In the long...
This expectation has now been dashed, and the scheme is unraveling. Debt-ridden, house-poor and increasingly unemployed, U.S. shoppers are cutting back. Consumer spending in the U.S. dropped at an annual rate of more than 3% in both the third and fourth quarters of 2008 - the steepest consecutive quarterly...
The second layer of diversification requires reducing overall dependence on trade by promoting domestic consumption and expanding service sectors. Park Chung Hee's growth model discouraged investment in domestically focused sectors and consumer spending - both of which could provide a cushion to Asian economies in global downturns. Vestiges of his...
Thank you for the list of 25 people to blame for the economic mess [Feb. 23]. It is nice to see who is responsible for this implosion. I do think you should have put the American Consumer at No. 1, though. No matter how nicely packaged the subprime mortgages were...