Word: exports
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Dates: during 2000-2009
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...time when Chinese-made products are seizing global markets, the 12 Girls Band has become the mainland's first pop-musical export. The Sino-Japanese balance of cultural trade used to be decidedly in Japan's favor. Although Chinese youth followed Japanese TV dramas and pop idols, the straitlaced mainland entertainment industry offered little in exchange. But today, the 12 Girls Band (which actually numbers 13, including one alternate) is ubiquitous in Japan. They star in commercials for chocolate and cell phones, comedians parody them on TV, and in what may be the most compelling proof of their fame, there...
...voracious demand for the world's raw materials and its burgeoning consumer markets means that the country has taken on outsized importance as an engine of global economic growth. Since 1995, China's GDP has doubled and its imports have tripled, making it an increasingly important trading partner for export-driven economies such as Japan, where trade with China accounted for 32% of export growth last year...
...China (yet) as the conventional wisdom held even a few months ago. The mainland is still not nearly as key to the region as a whole as is the U.S., Europe or Japan. Merrill Lynch economist T.J. Bond, for example, notes that although 20% of Asia's recent export growth may have come from China, 22.7% came from Europe. Likewise, although exports to China from Indonesia, Malaysia, the Philippines, Singapore and Thailand may have grown 30% in 2003, they still accounted for only 10.7% of those countries' total exports. "Of course a slowdown carries the risk of reducing exports...
...June - before deciding to have it ratified by Parliament or take the larger risk of submitting it to the public. And as if opposition from his own team wasn't enough, last week the European Commission announced it would put the E.U.'s €3 billion in agricultural export credits on the negotiating table to jump-start stalled global trade talks. The credits are sacrosanct in France, the largest recipient of such aid, and even more so to Chirac, who has made the defense of France's farmers an anchor of his political career. Chirac tried to stanch the wounds...
...Great Barrier Relief The E.U. welcomed the U.S. Senate's vote to repeal $4 billion worth of illegal export subsidies. Brussels says it will lift its own retaliatory tariffs on U.S. goods - in place since March - once the legislation becomes...