Word: foreign
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Dates: during 2010-2019
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These companies have a distinct advantage over foreign competitors because their founders and senior managers are part of the same elite class as the regulators who enforce the various and mostly unwritten rules of censorship. They have offices in Beijing, and they lobby the Chinese government through uncharted back channels and are in what amounts to a continuous dialogue about what is and what is not acceptable. This includes not only political censorship but morals - especially relating to porn and sex. Google may have hired its own cadre of Chinese executives but it - like Yahoo and eBay before - has always...
...There is no doubt that the pressure on the U.S. financial system [that led to the financial crisis] came from abroad," says Caballero, who is the head of MIT's economics department. "Foreign investors created a demand for assets that was difficult for the U.S. financial sector to produce. All they wanted were safe assets, and [their ensuing purchases] made the U.S. unsafe." (See the financial crisis after one year...
...number of economists and policy analysts believe Caballero makes a lot of sense. Alex Pollock of the American Enterprise Institute says it's clear the foreign investors who bought the bonds of mortgage guarantors Fannie Mae and Freddie Mac served to fuel the housing bubble. Ohio State University professor René Stulz, who has studied the financial crisis, says Caballero has hit on a critical contributor. Says Stulz, "Investors looking for safe investments in the U.S. created a demand for new products that caused our financial system to work differently from how it had worked in the past...
...They say just because there was money flowing into the United States doesn't mean the credit crunch was inevitable. They say stricter regulations could have stopped U.S. investment bankers from creating mortgage bonds filled with risky home loans and then passing those bonds off as safe investments to foreign investors. "Most of the blame for the financial crisis lies in the choices that were made inside the U.S.," says Anil Kashyap, an economics professor at University of Chicago's Booth School of Business...
...week began with Turkey needlessly slapped in the face, but by Wednesday, it was the turn of Israel's Foreign Ministry to suffer a public humiliation, being forced to grovel for Ankara to accept its apology. "Those who thought that nominating Lieberman to be Foreign Minister would not create problems for Israel were once more shown to be mistaken," a senior Israeli official speaking on condition of anonymity told TIME. "It was a disgrace to us all as Israelis." The Israel-Turkey relationship looks likely to absorb this week's contretemps, with neither side looking to escalate. On both sides...