Word: japanized
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...tome on globalization. It was a slim Japanese volume called The Dignity of a State. Written by mathematician Masahiko Fujiwara, the book is ostensibly a nostalgic call to return to ancient Japanese virtues. But it's also a shrill rant that blames free markets for a wide assortment of Japan's?and the world's?woes. "Globalism," Fujiwara writes, "is merely a strategy of the U.S. that seeks world domination after the Cold War." The author also calls the market economy "a system that clearly divides the society into a minority of winners and a majority of losers." WEF members...
...there was a link between declining bird populations and global warming. We should not forget that the death of even a single bird because of environmental factors can be linked to the fate of human beings, since we all depend on the health of our ecosystem. Tadashi Kawabe Fukuoka, Japan...
...plans for India, too. The trend has caught on: Shrewsbury School has a three-year-old affiliate in Bangkok, and a Dubai offshoot of Repton will open for business in 2007. Given British schools' success overseas, can a private education by any other name smell as sweet? In Gamagori, Japan, Kaiyo Academy, backed by a group of high-ranking businessmen hoping to revamp Japanese academic standards, has tried to shake off the name minted by the local media, "Eton of Japan." Yet it may be the most Etonian of Japan's many British-inspired schools, since it's the first...
...consumer prices climbed faster than expected in May, further fanning investor fears over inflation. Stock markets around the world have cracked sharply lower the past few weeks, with the Dow Jones Industrial Average losing all the ground it had gained so far this year. Japan's stock market is down 11% on the year; gold has had its biggest slide in a decade and a half; and many emerging markets are wobbling. After Wednesday's Consumer Price Index report from the Labor Department, which showed a 0.4 percent increase in prices for May (core inflation, which excludes food and energy...
...That should be telling us something. What is it? In the past few years, the central banks of Japan, the U.S. and Europe have cut interest rates so aggressively that the real cost of borrowing fell to, effectively, below zero. That spurred extraordinary amounts of debt financing by governments and corporations. But now, as the global credit cycle tightens, some of the marginal investments will quickly become unsustainable. If central bankers keep raising interest rates, deeper cracks would open in the world economy...