Word: honge
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...America's speculative housing boom could trigger an economic crisis. At the time, he was dismissed by many as a perpetual pessimist. Today, he's a sought-after analyst and a popular guest on financial-news programs and websites - and he's as gloomy as ever. Over breakfast in Hong Kong recently, the New York University professor talked with TIME's Michael Schuman about the perils that lie ahead if governments do not do more to confront the myriad problems facing global financial markets and economies...
...slightly down, while European indices reflected modest opening gains. But many observers see Tuesday's lull as little more than a break between rounds in a particularly brutal boxing match. "The markets certainly got a breather today," says Kirby Daley, senior strategist at financial services firm Newedge Group in Hong Kong, of Tuesday's respite. "(But) I believe it will be short-lived...
...swirl it on a stick. Inspired by that image, Wang began selling chocolate ice cream swirls on paper squat toilets. Customers loved them and wanted more edible excretion experiences, so he opened Modern Toilet in 2004. The theme-restaurant chain now has seven outlets in Taiwan, one in Hong Kong and one opening in Shenzhen, China, this week. Plans for other cities in China, Macau, Kuala Lumpur, Malaysia are also under way. Dinner à la latrine, anyone...
...exchanges suffered serious erosion, with London's FTSE 100 down 4.2%, Paris' CAC 40 by 3.6%, and Frankfurt's Dax index 2.8%. The trio closed Monday trading with losses of 5.33%, 4.48%, and 3.48% respectively. The European shrinkage followed Asia's lead, with Tokyo's Nikkei index dropping 3.8%, Hong Kong's Hang Seng off 3.9%, Sydney's All Ordinaries falling 2.8%, and Mumbai's BSE Sensex down 3.69%. (See pictures of the global financial crisis...
Investors worldwide were sharing the same anxiety over the weekend - and it arose early on Monday to take down markets everywhere. Hours before Wall Street woke up to a March snowstorm, Tokyo's chronically weak stock market avalanched 3.04%; shares of Hong Kong stocks were down steeply too, falling 3.68%; European markets were mostly off 4% or more. As the day progressed, Latin markets fell in tandem with U.S. - Argentina's bourse closed down...