Word: downturns
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...local disruptions in each other's economies. A U.S. recession could force Chinese factories to shut down or lay off workers, most for the first time ever. At the same time, India's army of computer programmers and call-center employees could also feel the ripple of a downturn in the U.S. economy. Indians wouldn't be answering so many 800-number calls from shoppers buying plane tickets or other goods...
...about 38 times their projected 2007 earnings-a high ratio even for a fast-growing developing economy-China is causing a serious case of the shakes. The issue isn't simply that the little guys are in danger of losing their savings. It's whether a serious market downturn might blunt, or even reverse, China's growth. Mainland authorities have already made it clear that they are concerned about economic overheating, "and the stock market is part of that picture," says an economist at the China Academy of Social Sciences (CASS). On May 18, China raised interest rates...
...high-speed Internet access at home-have made it all the harder to detach from work. Finally, when you consider the retrenchments and economic wipeouts that have set the temper of their working lives over the past decade-the financial crisis of 1997, the dotcom implosion of 2000, the downturn in the wake of SARS in 2003-it's easy to see why Asian men have prioritized work. "Since 1997, it's not been possible to get a bonus," says Wong, the Hong Kong buyer and father of four. Spurred by the fear that their incomes will...
...administration of Tung Chee-hwa, Hong Kong's first Chief Executive after the 1997 handover to China. Tung-who came from a Shanghainese family rather than from Hong Kong or its neighboring province, Guangdong-was never wildly popular and proved ineffectual, unable to meet the challenges of either a downturn in the economy or of the SARS epidemic that hit Hong Kong in 2003. In March 2005 Tung stepped down. Tsang became acting Chief Executive, and was confirmed in the job by the Election Committee in June that year (there was no other candidate then...
...belief in any recovery and when doom and gloom prevail. Conversely, when the sky is cloudlessly blue and phrases like New Economy, New Paradigm and Goldilocks Scenario are in vogue, the odds of a serious bear market arriving increase significantly. Nobody rings a bell at the onset of a downturn-rather, bear markets sneak in, like a thief in the night, while the investment community is sleeping, confident that its rich market gains will grow ever richer...