Word: importance
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Dates: during 2000-2009
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These days, China and the other countries participating in what some have called Bretton Woods II export so much more to the U.S. than they import, they find themselves with hundreds of billions of dollars that they don't know what to do with. Up to now they've been content to recycle most of them by buying Treasury bills and other U.S. securities. The U.S. has enjoyed the low interest rates that have resulted, while China, the gulf states and Japan haven't wanted to face the consequence that by selling dollars, they would decrease the value of their...
Ahmadinejad's appearance was a small but telling moment in the rolling overhyped crisis that is George W. Bush's so-called war on terrorism. The Iranian President's words had no practical, only symbolic, glob?al import. He has very little real power in Iran, none over foreign policy or the nuclear program. He has no more power than his predecessor, the failed reformer Mohammed Khatami, who came to be regarded in the West and in Iran as a well-dressed cipher. Indeed, Ahmadinejad has failed in the one area where he actually does have some authority: reforming...
...even if Budvar does go up for grabs, says CEO Jiri Bocek, Anheuser-Busch would not be given preferential treatment over any other bidder. In January, the rivals announced a deal under which Anheuser-Busch would import and distribute Budvar's Czechvar beer in the United States. Rumors immediately swirled that the American brewer was trying to get ahead of potential bidders in a future privatization. But Bocek rejects those claims. He says that when Anheuser-Busch CEO August Busch IV made him the surprise distribution-deal offer in a meeting in Prague, they agreed, he says, "that the only...
...heartbreaking to see that there is not much local entrepreneurship creating things for export," Jakobsen says. "In a way, you feel happy if you can get this shirt, or these pants, or these shoes. But it's not healthy for the national economy to see that more import stores are opening. The balance of import and export will be very, very skewed...
...years foreign brands have been put off by this country's high import taxes (up to 50% for watches) and its shabby retail environment (there are no upscale shopping streets and few malls). But today India is experiencing a mall-building boom, perhaps a response to the sharp rise of newly affluent consumers?many under age 25. Analysts at Bain & Co. predict that the luxury market could grow 25% a year over the next three years?a far cry from the days when it was the exclusive preserve of Cartier-bedecked maharajas...