Word: exports
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Dates: during 2000-2009
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...suddenly and without any warning, former workers say. They were among the latest and largest factory closures in China's battered low-end industries: toy manufacturers, textile companies and shoemakers most prominent among them. China's steadily appreciating renminbi (RMB) currency - which makes Chinese goods more expensive in key export markets like the U.S. - as well as higher costs embedded in a new labor law enacted last year were already wreaking havoc with companies that survived even in the best of times on the thinnest of profit margins. Now, with a global recession gathering pace, the best of times...
...fear that the ongoing crisis is derailing what once was one of the region's most promising economies. With foreign investors and tourists (who bring in some $16 billion a year) spooked by the political instability and Thailand's manufacturing base bracing itself for a drop in global export demand, national growth forecasts for 2009 hover at a bleak...
...among Japanese politicians. In addition to studying at Stanford University and the London School of Economics, he spent time in Sierra Leone and Brazil, where he ran family mining businesses. A vocal advocate of Japan's foreign-aid efforts, Aso calls assistance for developing countries "a respectable means to export Japanese culture [and] an important means to disseminate Japanese values...
...Japan's minister for economy, trade and industry, Kaoru Yosano, summed it up on Monday when he said, "Japan is in a very serious situation." Last month, as the nation's export-driven economy watched global demand slow down, Japan's Nikkei index fell to a 26-year low. Couple this with the appreciation of the yen - which some economists say could strengthen to an exchange rate of 80 to the dollar by the end of next year - and it's little wonder that corporate powerhouses like Toyota, Honda and Sony have seen profits dive. Royal Bank of Scotland Japan...
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...