Word: exports
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Dates: during 2000-2009
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...industry deserve credit, however, for taking the first steps toward ending the diamond-related slaughter. And, yes, the gems can be used to build up a nation's infrastructure rather than tear it apart. While the nascent democracy of Botswana does not have a diversified economy (65% of export income comes from diamonds), its calm political climate proves that these stones are not always corrosive to the places they come from. Namibia is taking steps toward creating a homegrown polishing industry, adding a long-overdue value-added layer to the extraction process. A sudden collapse of the diamond trade would...
...lawmakers seeking to protect textile manufacturers in their home states, or seeking to punish Vietnam for its human rights record. For now, Vietnam finds itself in the unusual position of joining the world trading club but having none of the benefits of membership apply in the U.S. - its biggest export market. The U.S. recently imposed anti-dumping tariffs on Vietnamese shrimp and catfish, while Europe has done the same for leather footwear, hitting some of Vietnam's biggest exports. While WTO membership allows countries to challenge such barriers, Vietnam joined as a "non-market economy," a classification that denies...
...reforms and open up to the world. There's a sound reason to think things are different this time. Last week, after many years of trying, Vietnam won its bid to join the World Trade Organization, a move that could help liberalize the country's economy and spark an export-driven boom similar to the boost China received after it joined the WTO in 2001. Vietnam is already on a roll. It's GDP growth rate this year is projected to be 8.2%, the second-fastest pace in Asia behind China and in a dead heat with India. Exports were...
...year. Roads and ports are increasingly congested. Nike Vietnam's general manager Amanda Tucker says the company's containers sometimes sit on the dock for 24 hours before shipping out. Because Vietnam has no deep-water port to handle the new larger "super-container" ships, most exports must first go to Singapore before shipping to the U.S. and Europe, meaning more expense and delay. "The system is definitely under strain," Tucker says, and with the expected post-WTO export surge, "it's only going to get worse." Le Cong Minh, general director of Saigon Port, says there are plans...
...leaders must be asking a similar question: now that the country is a WTO member, will it be treated with fairness by the international trading community? By joining the WTO, Vietnam hopes to become free from trade restrictions such as garment quotas that in the past have constrained its exports to the U.S. and Europe. Textile manufacturing employs 2 million Vietnamese and is the country's largest export earner after crude oil. But Vietnam's trade relations with the West have sometimes been prickly. The U.S. in recent years has imposed antidumping tariffs on Vietnamese shrimp and catfish...