Word: exports
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...Today, the tigers are being tripped up by that same lifeline. As consumer and industrial demand dries up in recession-wracked Western countries, East Asia's export-led nations are proving to be extremely vulnerable to a synchronized global slowdown. Among the tigers, overseas trade is shrinking with frightening speed: Taiwan's exports in January plunged 44% from the same month a year earlier, while Singapore's fell 35% and South Korea's 33%. Overall economic growth is following suit. In the fourth quarter of 2008, Taiwan's GDP contracted 8.4% from the same period a year earlier, the worst...
...time high of $266 billion last year, prompting U.S. complaints of unfair trade practices by Beijing. Meanwhile China has bashed what it calls efforts by the U.S. to promote protectionism. As money from China's $586 billion stimulus program begins to flow, some economists expect that it will encourage export production faster than it stimulates domestic consumption. If that's the case, the Sino-U.S. trade gap and the resulting economic tensions will only swell...
...immediate threat, though, is economic. Venezuela relies on oil and gas for 93% of its export revenues. López says Chávez is rushing the term-limits question to the polls again before the drop in oil prices hammers the economy and shrinks his checkbook. Inflation is more than 30%, and the country faces shortages of staples such as milk. Chávez insists his government has stored away reserves to cushion the looming pain and recently pledged that "even if the price of oil drops to zero," the social largesse will keep flowing...
...animals can eventually be sold for as much as $900 each.) Legalizing the trade would reduce the border violence and open a new stream of tax revenue. But few on the border expect that to happen in a majority-Hindu country. "Which government is going to allow the export of cows for slaughter?" Mitra asks. "That would just be political suicide...
...have largely avoided the toxic assets that have been the downfall of so many of their counterparts in the U.S. and Western Europe. Yet the drop in energy and commodity prices since the summer is exposing Russia's fragility: gas and metals account for more than three-quarters of export earnings. The boom, it turns out, was built on expensive oil and precious little else. Economic growth, which averaged more than 7% for the past five years, has tumbled, and the government now expects the economy to contract 0.2% this year. And for the first time since the collapse...