Word: foreigners
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Dates: during 2000-2009
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...bravado often descends into recrimination and regret. Of course, there are obvious benefits for an Olympic host city - primarily the opportunity to showcase itself in front of a global TV audience numbering in the billions. Indeed, many view the Olympics as the ultimate infomercial to help attract business and foreign direct investment...
...news is that to ameliorate the worst side effects of the carry trade, which if unchecked could make Asian exports too expensive to buy, Asian central banks have intervened in foreign exchange markets and done something they are loath to do: Actually increase the dollars in their foreign reserves. "Asian central banks are accumulating even more dollars," says Credit Suisse's Desbarres. According to Citigroup, China's foreign reserves ($2.13 trillion as of June, including forward currency contracts) have increased 11.9% since the collapse of Lehman Brothers in September, 2008. Hong Kong's foreign reserves have shot up by nearly...
...mural project began to materialize when a graduate student in paleontology, Ben Kotrc, met Sidewalk Sam during the summer at an event. The project attracted young children of all ages and encouraged students to marvel at the foreign life forms created by the artist and other collaborators...
...thrive. In the first half of 2009, its regional operations notched a pretax profit of $4.5 billion, more than half of it coming from Hong Kong alone. The bank is also continuing to expand in Asia. In China, where HSBC already has the largest branch network of any foreign bank, it is considering an initial public offering of stock on the Shanghai exchange. In May, HSBC completed its acquisition of Bank Ekonomi in Indonesia, almost doubling its number of outlets in that country...
...unlikely Westerwelle will be in the mood for too many compromises. The FDP leader, tipped to become Germany's new foreign minister, criticized the previous government for bailing out the automaker Opel, while neglecting small and medium-sized firms - the famed "Mittelstand" which make up the backbone of the German economy. Westerwelle also called for controversial reforms to make it easier for firms to hire and fire workers and he proposed 400 spending cuts. That could lead to clashes with Merkel, who's spent the past few years defending Germany's social and labor protections. "I think Chancellor Merkel will...