Word: copper
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Dates: during 2000-2009
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...northeast, however, something is growing that could change that. Some 100 miles upstream is the proposed site of what would be one of the largest mines in the world. The Pebble Mine, if it goes forward, could produce copper and gold worth more than $300 billion at current market prices. But opponents say its development poses a toxic threat to Bristol Bay's rich fishing grounds - and to a way of life that dates back centuries. "There's a whole lot of land and water in harm's way," says Chesley, a salmon fisherman when he's not flying charters...
...equivalent of $224 billion, more than double the previous month's lending. The total amount of money that banks have loaned thus far in 2009 already exceeds the total amount loaned for all of last year. Speculative froth in China's financial markets abounds. Long-futures interest on copper contracts on the Shanghai Metals Exchange - bets that the price of copper will continue to rise - recently exceeded the total amount of copper delivered into China in 2008. Research Edge's Barber believes Beijing is buying current growth at the expense of the future. Politically, he acknowledges, Beijing's leadership...
Uncertainty about the economic recovery was also reflected in commodity markets, which sold off broadly on June 15. China is believed to be stockpiling a range of raw materials, notably copper, which has driven prices dramatically higher in recent months. But ubiquitous weakness in global demand is now taking a toll. The Reuters-Jeffries CRB commodity index fell 2.25% during the day. Gold prices dipped slightly, down $11 per ounce, but stocks of precious-metals companies were hammered, declining more than 7% on average...
...steadily made inroads west, tying up lucrative energy contracts in Kazakhstan, while committing tens of million dollars to infrastructure and hydropower projects in impoverished Kyrgyzstan and Tajikistan. China has also become the single largest investor in Afghanistan, building roads through Kabul and setting up a massive $3 billion copper mine. In 2001, China formed the Shanghai Cooperation Organization (SCO), a geo-political grouping aimed at improving economic and political relations with Russia and other Central Asian nations - as well as a vehicle for Beijing to quash support for separatists in its restive Xinjiang province, whose Muslim Uighurs share ethnic ties...
...Booming prices for oil, copper, gold and other commodities over the past decade have produced annual GDP growth rates as high as 6% in some African countries. But the International Monetary Fund predicts continent-wide economic growth of only about 1.7% this year - compared with last year's growth estimate of about 5.5%. (See pictures of scared traders...