Word: hugeness
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...will be doing far better than the U.S. and most of Europe. The Indian multinationals that have grown out of the 10-year boom look as strong as ever, with outsourcing giants like Infosys and Tata Consulting Services growing very robustly. Their success has created a huge middle class for which 12% inflation is more of a nuisance than a worry. The long-term future of the Indian middle class is secure. The factors that have driven its success - a sure grasp of English, a facility with technology, a talent for innovation - will continue to be important in the global...
...life, they know now that they were wrong. With prices rising, their savings are being eaten away. Higher food and fuel prices are being driven by big changes in the global economy that look set to continue. Even the most cheerful optimist in the past decade has seen the huge divide between the haves and have-nots, but the hope has persisted that it would somehow go away. Inflation has set like cement into that divide, solidifying the gap between the two Indias...
...Georgians today," U.S. presidential candidate John McCain said Tuesday. But it was eastern European leaders who showed up in force in Georgia on a sultry evening to reassure the huge crowd of Georgians. No fewer than six heads of state flew into Tbilisi to pay their respects and show their solidarity with this small nation of 4.5 million people. They included France's Nicolas Sarkozy and the Presidents of five other regional neighbors, including Poland and Ukraine. Sarkozy stayed behind closed doors, trying to hammer out a ceasefire agreement, but the others unabashedly threw in their hat with the Georgian...
...question is uncomfortable, Lucas writes correctly, in part because Russia is a huge energy exporter at a moment when demand for oil and gas has skyrocketed, driving prices up and filling the Kremlin's coffers. Eastern and Western Europe are heavily dependent on gas from state-owned giant Gazprom (whose former chairman happens to be Dmitri Medvedev, Putin's puppet President.) Russia's oil exports are critical at a time when the world has no spare capacity for crude. How tough, seriously, can the West be with an aggressive Russia at this moment in history...
...standing in a farmer's field, smoke rising from a huge fire started by a Russian incendiary bomb that had drilled into the ground 15 minutes earlier, when the first report came that Russian President Dmitri Medvedev had announced a pullback of Russian forces and an end to the bombing. It was news to the villagers, who had just watched their wheat crop engulfed in flames a few minutes earlier and who had spent the night before sheltering in the forest from Russian attacks. But a visitor from a nearby town insisted it was true...