Word: globalized
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...Predictably, some hard-line Islamic groups have already gathered across the nation to thrust their fists in the air and chant anti-American slogans. But their numbers, so far, have been limited. What reigns in Indonesia, instead, is waning optimism for Obama's efforts to re-engage with the global Islamic community, something he has managed to do with some success in Afghanistan and Pakistan. Last year, a local Muslim organization called Muhammadiyah urged its 29 million members to study Obama's Cairo speech when he called for a new beginning with followers of Islam. But since that historic address...
...More Hope Than Change Of course, global expectations were always going to be tough for Obama to meet. When he was elected President, much of the world, including Asia, considered Obama their leader too. From climate change to a détente with Islamic nations, Asians hoped Obama would somehow solve a multitude of global problems. But there was no magic wand, nor has Obama's connection to Asia translated into significantly closer ties. "Even though he grew up in Indonesia, Obama's strength is as a local community activist, not as a foreign policy expert," says Bara Hasibuan, foreign...
...giant wind turbine stands over Dagenham Heathway like an exclamation point. To Ford Motor Co., the U.S. corporation that erected it six years ago, the turbine is a vigorous declaration of modernity, generating the sustainable energy that drives what it calls a "global center of excellence for diesel engineering." These days, however, the 394-ft. (120 m) structure seems to punctuate the cry of pain that was once a busy shopping street in this hardscrabble East London suburb. Ford Dagenham produced as many as 340,617 cars annually and employed 40,000 people at its peak in the 1960s. Ford...
...Dagenham's decline is emblematic of the ebbing of Britain's manufacturing prowess - and the way in which shifts in the global economy can strip a place of jobs like a hurricane takes leaves off a tree - then its main street captures a national mood of hopelessness and anger. All of Britain is in a deep funk: although its economy is finally growing after a prolonged recession, that growth is so tender that many fear it will shrivel and give way to a second, deeper contraction. Britons are downcast, their politicians discredited. In one of the world's oldest democracies...
...recent roller-coaster ride of the British pound. After a recent poll showed Labour and Conservatives running neck and neck, the pound plunged 2% against the dollar in a few hours. Britain clings to a nostalgic sense of its place in the world as a top-tier global economic power. It's still the world's sixth largest economy, but other numbers are not so flattering. Britain's budget deficit - ?178 billion, according to the Treasury - is the largest as a proportion of GDP among G-7 nations. Unemployment stands at 2.46 million, a rate of 7.8%. That...