Word: european
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...committed to Los Angeles. And their interest in Beckham may not be simply for his ability to cross a ball from the right and bend a free kick: His global celebrity appeal has been proven to sell millions of replica jerseys all over the world for his previous European clubs, and signing him clearly had as much to do with marketing as with his skills...
...course, the highly unusual free loan arrangement leaves open the possibility that Beckham is simply going to Milan to keep in shape through the European winter by training with a top club, and keeping his England prospects alive. (He spent last year's MLS off-season training with England's Arsenal.) But Milan is hyping the arrival of its new recruit, and suggests it could buy out the remainder of Beckham's contract with L.A. The chance of that happening, however, if highly improbable, given the money required and Beckham's own declining play. Galaxy coach Bruce Arena opposes even...
...watched its field of action wane as economies developed and globalized. As part of that evolution, financial trading began spanning borders and generating previously unimaginable transactions through highly-leveraged and complex derivatives - all within a virtually unregulated atmosphere that national governments couldn't manage to police. Sarkozy and his European partners hope that the Nov. 15 summit can come up with a scheme of common rules governing global finance - with the IMF possibly acting as the world regulator. Not everyone is optimistic that will happen...
...Karel Lannoo, chief executive officer of the Center for European Policy Studies in Brussels, thinks the European Union's "collective structures and recent history of harmonization" leave it well-placed to come up with coordinated national rules - or eventually even common regulation - for financial markets. Yet he says spotty bank balance sheets were just as evident and untreated in Europe as the were in the U.S. until the crisis hit. "Europe, like America, decided it was easier to assume the sun would keep shining and the grass would remain green," Lannoo says...
...double-digit rates, Chinese banks had little overseas exposure to the credit crisis, and the country's $1.9 trillion in hard-currency reserves stood as a vast emergency fund that could be drawn upon in the event of trouble. Just two months ago, while giant Wall Street and European banks were crumbling, China was relishing its role as host of the Olympic Games as the world paid tribute to its years of remarkable, seemingly unstoppable economic progress...