Word: consumerized
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The closure has left teachers suddenly adrift in a strange land. Many, like Steele, have taken to the streets, leading demonstrations against Nova and Sahashi and holding press conferences denouncing the company. On Nov. 2 former Nova employees announced a lessons-for-food program, which would allow students to pay...
Geographical diversification certainly is helping Citi--the company made twice as much money in Latin America as in the U.S. in the past quarter, and did even better in Asia. But while Weill and Prince did make a few big foreign acquisitions, that global footprint is mainly a legacy of...
...relates to Asian designer labels and fashion in Asia more generally, the impact of marketing on consumerism is especially important. Asia is the land of the nouveau riche, an easy demographic to convince of the importance of symbols and status. As of the turn of the millennia, roughly half the world’s full-priced luxury purchases were made by Asians. And the industry is following the money: as of last year, Salvatore Ferragamo had 16 retailers in Singapore, a city-state of 4.5 million people; New York City, home to over 8.2 million and arguably the most developed...
...questionable, however, whether or not such a use of money is healthy, especially for developing regions like Asia. High-end consumerism is at the root of a great many social and environmental concerns in Asia. For instance, consumer protection organizations have formed in South Korea to campaign against “overspending mania” that is sweeping the country. Native Asian wealth is being whisked abroad to support the economies of foreign nations, creating illiquidity for local investments. In China, factory employees work long hours in outsourced textile production, making the region a smoggy, grey-skied dumping ground...
Consulting payments can induce physicians to make treatment decisions because of financial ties—and not necessarily in the patient’s interest—according to Merrill Goozner, director of the Integrity in Science program at the Center for Science in the Public Interest, a non-profit...