Word: dominos
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...soaring energy prices of the past few years. Its biggest banks, all of them state-controlled, appear to have largely avoided the toxic assets that have been the downfall of so many of their counterparts in the U.S. and Western Europe. Yet Russia has been caught unawares by the domino effect of the financial crisis because of its unhealthy overdependence on oil, gas and metals, which account for more than three-quarters of export earnings. The collapse in energy and commodity prices since this summer is exposing Russia's fragility: the boom, it turns out, was built on expensive...
...domino fashion, revenue shortfalls are leading to cuts in services around the nation and across the board. At least 10 states, including Nevada, New York, Ohio and North Carolina, have reduced budgets by as much as 7%, with 10 more states considering such action. The pain is being felt from community colleges to prisons, from fire departments to courthouses, with major state responsibilities like Medicaid and elementary-school education taking hits...
...This bleak outlook could get even worse, at least in the short term, if GM, Ford or Chrysler went bust. That's because of a domino effect that would probably result in the subsequent failures of parts suppliers that also sell to factories operated by Toyota, Honda and Nissan in the U.S. Vehicles built on American soil accounted for 63% of Japan's total U.S. sales in 2007, according to the Japan Automobile Manufacturers Association. A sudden parts shortage could force companies to shut down some of those assembly lines, generating major losses...
...form of legitimization by later strikers. "There have been taxi-driver strikes occasionally in the past a few years, but never so many in such a short period of time," says Liu Feiyue of Civil Rights & Livelihood Watch, a Hubei province-based rights group. "There is a domino effect, even though the drivers might deny it. The initial strikes are an inspiration to the later ones...
...gradually bound to be a more common phenomenon,” he said, “but it is the last domino to fall...