Word: exporting
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Dates: during 2000-2009
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...sharp relief. Kemal, much to his regret, ends things with Füsun, and the next 350-odd pages chronicle his devastating remorse and unsuccessful attempts to win her back. In the process, he alienates his friends, breaks off his engagement, sacrifices his stake in a distribution and export firm, and even starts a production company called Lemon Films Inc. to finance the absurd scripts of his ex-lover’s chubby screenwriter husband (a mere excuse to visit their apartment). Society dismisses Kemal as foolish or eccentric, but to him it doesn’t matter: for love...
...this week conjured up memories of the Sino-Soviet alliance during the early years of the Cold War. But despite the bonhomie and talk of common interests, the neighbors are now most aligned by the bottom line. After signing $3.5 billion in deals and approving a framework for the export of a huge quantity of Russian natural gas to China during an Oct. 12-14 summit, the two countries have shown that what links them closest is the almighty deal...
...China's export dependency went far beyond the unbalanced structure of its real economy. Its financial and currency policies were also aimed at deriving maximum support from external demand. A closed capital account and an undervalued renminbi (RMB) were icing on the cake for China's powerful strain of export-led growth. Moreover, to the extent that its currency-management objectives required ongoing recycling of a massive reservoir of foreign-exchange reserves into U.S. dollar - based assets, such capital inflows helped keep longer-term U.S. interest rates at exceptionally low levels. In effect, China's implicit interest-rate subsidy ended...
...from a mercantilist growth model that was tied increasingly to the voracious appetite of the American consumer. Unfortunately, Asia did not do a good job in hedging that bet. The U.S. could now be in the early stages of a multiyear consumption retrenchment, making the problems of an unbalanced, export-dependent Asian economy even more acute...
...Heightened efforts in the area of resource efficiency are also an urgent priority. A shift from manufacturing-led export growth to more of a services-based consumption model will relieve some of the inherent biases of energy- and resource-intensive growth. But Asia must do more in the way of investing in alternative energy technologies, retrofitting existing production platforms and moving to lighter construction and production techniques. Air and water pollution have become endemic to Asia's hypergrowth. That's especially true in China, home to seven of the 10 most polluted cities in the world and whose level...