Word: laboring
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...Hussein's plight reflects one of the burgeoning problems of the global downturn. Countries that built successful economies in part on the backs of cheap migrant workers now face upheaval in their labor markets. In places like Taiwan, Malaysia, South Korea, and the Gulf states, companies are folding, factories are closing, and thousands are losing their jobs - meaning migrant workers like Hussein are being shoved out of the labor pool and into a tenuous half-life on the margins of the world economy...
...even worse in their native countries, many decide to stay on in their adopted homes even though they have lost their jobs and their work visas are no longer valid. "They will settle to be illegal," says Manolo Abella, a Bangkok-based expert on regional migration for the International Labor Organization. "Migrants workers often tolerate all sorts of abuse and deprivation just to stay and earn a wage, to avoid being sent home." Recent cases of undocumented workers getting pressganged into near slave-like conditions aboard fishing vessels in the river deltas of Southeast Asia have dramatized how vulnerable destitute...
...America has always debated the primary source of its wealth: capital or labor. And in a way that happens more frequently in literature than in life, Rattner and Bloom are neatly drawn avatars for the opposing sides of that argument. As such, they make a complementary team to resuscitate the moribund automakers. Out of money and out of options, GM and Chrysler can be saved from complete dissolution only by a government effort to reconcile management, workers and creditors to a much-diminished future. If Rattner and Bloom can find common ground, perhaps those dueling interests...
...partnership with Fiat and GM 60 days to avoid bankruptcy court. Rattner will have to browbeat intransigent bondholders. Bloom will have to force major benefit cuts on the unions. And both will have to sell management on a radical reordering of their companies, one in which both capital and labor take a serious hit in order to keep the machine running...
...cites a range of problems and obstacles that are keeping investors on the sidelines while funding remains sorely needed for the building of new ports, power plants and roads across this huge nation. "Lots of projects were showcased but very few have been realized because of classic issues like labor laws and the overall investment climate," explains Sandiaga Uno, CEO of Saratoga Capital, a venture capital firm. "Very basic issues like the bureaucracy and land availability have stifled infrastructure efforts...