Word: latinization
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...1950s. The drivers were international expansion and domestic innovation, and the leader was Walter Wriston. The bank's CEO from 1967 to 1984, Wriston changed the y in City to an i. After years of success, though, he left the bank with billions in bad loans to Latin America. Only profits generated by the U.S. retail-banking and credit-card juggernaut built by Wriston's protégé John Reed--combined with a certain amount of forbearance by bank regulators and a lot of cash from Saudi Arabia--enabled Citi to survive. Reed then agreed to a 1998 merger with Travelers...
...Since 9/11, the Middle East has swallowed American foreign policy. From Bangkok to Brazil, China has been winning friends and influencing people while the U.S. fights endless wars in the basket cases of the world. Obama's personal story gives him a unique opportunity to remind people in Asia, Latin America and Africa why America can still inspire in ways China cannot. But he can do that only if he and his top advisers take the time to nurture relationships that the war on terrorism has distorted or eclipsed...
...great fit," said Chrysler chairman Bob Nardelli in the joint communiqué. "It creates the potential for a powerful new global competitor." Nardelli pointed to Fiat's "competitive, fuel-efficient vehicle platforms, powertrain and components" as well as its distribution outside North America, including sales networks in Asia and Latin America...
...Obama says he's willing to sit down and talk with Chávez and Castro - but he's not a big fan of the Latin left's populism. In a speech last May in Miami, he did slam Bush's Americas policy as "negligent toward our friends, ineffective with our adversaries, disinterested in the challenges that matter in people's lives and incapable of advancing our interests in the region." Yet he also suggested that "demagogues like Chávez have stepped into the vacuum. [Their] predictable yet perilous mix of anti-American rhetoric, authoritarian government and checkbook diplomacy...
...responded to Obama's criticisms on Thursday: "Don't say Chávez is throwing stones," he said. "Obama already threw the first one." So while Saab says Latin pols like himself have "reasonably positive expectations" about Obama, they're "skeptical." But even if the U.S. doesn't give Saab a visa while Obama is President, a sufficient number of Latin Americans are likely to see enough change in gringo policy to soften their resentment toward the U.S. And if Obama is smart, he'll see that as a good start instead of an afterthought...