Word: exporting
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...brisk 7% pace in 2004, according to Merrill Lynch. But economists estimate that every $5 increase in oil prices shaves 0.2% from the GDP growth of the Asia-Pacific region, and the longer prices stay high, the stiffer the economic headwind. In the past few weeks, Asia's export-led economies have begun to show signs of stress. With higher oil prices putting a drag on consumer spending in America and raising costs throughout Asia's supply chains, "We are facing a lower growth path over the next 12 months," says White...
...many of the factories she supplies have gone bankrupt this summer. Xu Songquan (no relation), who has been in the plastic-molding business since 1977, explains that factory owners who negotiated contracts with foreign companies earlier in the year when the price of oil was lower "settled on an export price, and now they can't make money so they're just going bust." Adds Zheng Shihua, who runs a trading house out of a storefront that doubles as his family home: "I never dreamed the prices would get so high. I'm scared to buy raw materials now, because...
...Free societies in the Middle East will be hopeful societies, which no longer feed resentments and breed violence for export,” Bush said...
...World winemakers have always chafed under Europe's 75% share of the $7 billion global-export market. But Australia, with the help of its Shiraz, managed to overtake France as the No. 2 exporter to the U.S., bested only by Italy. South Americans have also learned a little something about the value of an offbeat grape. Chilean wine exports top $500 million, but they're better known for value than vintage. And so since 1997, the area of Carmenere vines has risen 1,800% in Chile, to more than 15,000 acres and counting. (Terrunyo--the best Carmenere at Chile...
Argentina was forced to redefine its domestic wine industry when its citizens started drinking less wine a decade ago. Argentine producers--who make more wine than Chileans but export only 15%--had a choice: export or go bust. "We had to differentiate ourselves," says Bernardo Hoffmann, marketing director for the Wines of Argentina export association. Hence the rebirth of Malbec, a French migrant long dissed as merely a blending grape. Enologists found the grape to be a more complex varietal than once thought, especially in Mendoza's dryer, Andean conditions. Today, Malbecs like Catena's, from $10 to $50, score...