Word: exporters
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What would Canada's Detroit Three, who export about 85% of their production south, do with a cash infusion - by some estimates anywhere from $2 billion to $4.3-billion? "They would cover payroll and hope things get better," says Alan White, an investment specialist at University of Toronto's Rotman School of Management. As a result, critics warn Ottawa and the Ontario provincial government against throwing good money after bad. "If there's a government bailout it will be helping companies at the center of losing jobs, and punishing companies who have created jobs," says veteran Canadian analyst Dennis DesRosiers...
...Somalia's most dangerous export is terrorism. Before the Bush Administration's Iraq digression, Somalia was target No. 2 in the war on terrorism, behind Afghanistan. After all, it was a Somalia-based al-Qaeda group that killed 224 people in the twin bombings of the U.S. embassies in Kenya and Tanzania in August 1998. But it wasn't until the end of 2006, when Somalia was invaded by the U.S.-allied Ethiopia, that American covert missions targeted the embassy bombers. One of the masterminds, explosives expert Abu Taha al-Sudani, is now dead, as is Aden Hashi Farah Ayro...
...significant turning point in the development of China's economy that will be felt for years to come. "I think in a decade, we'll be looking back at this moment and saying, 'This was it. This was when things really changed and China's economy transitioned from externally, export-oriented to an internal focus,'" says Ben Simpfendorfer, a China economist with the Royal Bank of Scotland in Hong Kong. He Liping, a professor of economics at Peking University, agrees. "I personally see this crisis as an opportunity to reduce our dependence on export and adopt a healthier path...
...There may be little Ma's China policy can do to significantly bolster Taiwan's economy in the face of the global financial crisis. The economy is highly dependent on exports, especially of electronics, to the U.S. and elsewhere. Taiwan's export orders grew only 2.8% in September from a year earlier, the slowest pace since 2002. The consumer confidence index in October dropped to the lowest level since monthly surveys were first conducted...
...currency continued gaining ground on the euro and British pound Monday, while a surging Japanese yen caused more trouble for Japan's export-reliant economy. That prompted the G7 to issue a statement that member nations would undertake collective efforts to undercut the value of the yen to limit the economic damage its rise has inflicted on Japan...