Word: exchangee
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What's surprising about Trung is not his profit projections-just about everyone is giddy about Vietnamese investments these days-but where he's making his money. While the nation's fledgling official bourses in Hanoi and Ho Chi Minh City are surging, Trung and many other local punters prefer...
Despite the dangers, the gray market is flourishing, spurred on by Vietnam's robust growth, optimism surrounding the country's recent entry into the World Trade Organization, and the rapid rise of sanctioned stock markets. Last year, the VNIndex, which tracks the prices of all of Vietnam's publicly traded...
Trung, the engineer, is rushing to cash in while he can. He expects the unofficial market will eventually be regulated, curbing the potential for instant windfalls. To contain volatility, for example, the Ho Chi Minh Securities Exchange suspends trading in a stock when its price rises or falls by 5...
But Nkrumah's policies came at a high price. Industrialization cost millions and the government neglected cocoa, Ghana's traditional export crop, which brought in most of the foreign exchange. As Ghana's economy began to fall apart, Nkrumah seemed more interested in pan-Africanism than the minutiae of government...
Cheney's visit comes at a time of growing unease in Tokyo that the U.S. and Japan may be drifting apart - and North Korea is one of the main causes. While Japan under new conservative Prime Minister Shinzo Abe has favored maintaining a hard line against Pyongyang, the U.S. was...