Word: glooming
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Dates: during 2000-2009
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...depressed mood is typical of the gloom that has enveloped the world's 13th largest economy. As has happened around the world, the panic that began on Wall Street has seeped into the minds and hearts of South Korean businessmen, bankers and housewives, who fear the consequences of an impending global recession. With the country heavily reliant on exports, South Korea, like the rest of Asia, cannot escape the fallout from a U.S. downturn. Goldman Sachs predicts GDP growth will sink to 3.9% in 2009, the lowest since...
...that the non-farm payrolls shed an unexpectedly high 240,000 jobs in October, the tenth straight monthly decline, and yet another sign that the recession's grip is tightening. Overall, the unemployment rate surged to 6.5%, higher than most economists had been expecting. The report added to that gloom with a downward revision of September job losses to 284,000, the biggest monthly loss since...
...gloom and doom, however. The United Arab Emirates, a federation that includes Dubai and six other states, has made $33 billion available to banks to calm the nerves of U.A.E. depositors and investors. And if the credit crunch shakes out property speculators and slows Dubai's growth to a more sustainable level, it should have the added benefit of taming inflation. "I am not necessarily thinking we are in a crash scenario," says EFG-Hermes managing director Hashem Montasser. "The economic situation is still very sound. [But] we will see a deceleration of prices, and it's probably a good...
Those recently initiated into this group are anxious about their futures, says Susan Eaton, a senior vice president at Lee Hecht Harrison, a career consulting firm. She says she is counseling clients to remain positive and open-minded about their futures. "It's not all doom and gloom," she says, noting that she hasn't seen a curtailing of severance and benefits packages. "The reality is people are landing [safely]." Still, some of those landings have been bumpier than desirable. "You may need to reinvent yourself," Eaton says. "Some people are not going to go back to the same companies...
...gloom descends, a question is starting to make the rounds--one that London hasn't really asked itself before: Has London become too reliant on a single industry, putting all its eggs into one volatile basket? "Obviously people see it as a risk, and if there's a prolonged downturn, it will become an issue," says Andrew Goodwin, a senior economist at Oxford Economics, who nonetheless believes that while "there is a concern about dependency, financial services have done well historically...