Word: exports
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Dates: during 2000-2009
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CASPIAN CAVIAR Supplies have been slowed while a U.N. agency, concerned about the endangered sturgeon, decides on export quotas...
...tongue-tangling name, pronounced "Dlurr Maindy." Then there are his '80s-style videos, pulsing with primitive arcade-game effects and joyful dancers in jumpsuits. And yet in the late '90s, fresh from a stint driving a cab in Berkeley, California, Mehndi became Asia's biggest-ever pop export...
...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...
...Asia. China's fast-growing economy and voracious appetite for raw materials (as well as for cars, cell phones and other middle-class baubles) has made it an increasingly key trading partner for its neighbors. Demand from China, for example, played a large role in hauling Japan's export-driven economy out of a prolonged slump. The mainland's neighbors have already been warily monitoring Beijing's efforts to cool overheated sectors such as real estate, fearful that clampdowns on credit and investment could crimp their China trade. Now there's a new worry: "China's dependence...
...badly needs to boost to revive its economic growth. Recent data suggests that South Korea may be entering a period of "stagflation," in which slowing economic output is accompanied by rising costs. The ruling Uri Party has proposed tax cuts to help spur domestic consumer and corporate spending. But export growth slowed to less than 30% year on year in August, making it less likely that the country can reach this year's target GDP growth of 5%. In this precarious situation, a spike in oil prices might well tip the country into recession. "Needless to say, if oil prices...