Word: localizes
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...avoid a recession, while the banking sector remains generally healthy - the renewed onset of economic turmoil has undermined the confidence of South Koreans in their own future. "The economy's O.K., but no one thinks so," says Jeffrey Jones, a Seoul-based attorney and former chairman of the local chapter of the American Chamber of Commerce. "They're saying that not only is the IMF coming back, but that 'we're failing...
...Mabini, a city of 41,000 overlooking the clear waters of Batangas Bay, used to be a busy farm town, where loaded trucks left twice a week carrying fruit to Manila. Today, nobody is making a living off the land. The local markets' produce comes from somewhere else, and the cost of living is inflated by residents' foreign salaries, which are easily 10 times local wages. In Little Italy, many workers have built sprawling, European-style homes - some complete with sweeping marble terraces, faux stone façades and fountains - years before they plan to return to the Philippines...
...school, her mother and father moved to Italy to work. When she was 18, her four siblings did, too. The family supported her while she stayed in Manila to go to university, but she says the feeling of being deserted has never left her. Now 27, with a good local job as a bank teller, Diaz has to decide whether to join her entire family in Italy, where she'd make more money even as a domestic worker, or stay in Little Italy and raise Magnus alone. "I know my parents worked so hard for me to finish school...
...James, who is chairman, launched CforC in October 2007 to assist multinationals in emerging, postcrisis countries, particularly in Asia and Africa, by getting them directly involved in local humanitarian, developmental or environmental projects. Multinationals, CforC reckons, have a huge capacity for doing good in these regions, and the goodwill their efforts engender can make it easier for them to do business, thus bolstering their bottom line. "This is what we call a license to operate," Hashemi explains. "Once you gain the trust of a community, you're safer there." Butler, a former army brigadier who commanded British forces in southern...
...Shabaab is taking its brand of terrorism to new territories. On Oct. 29, members detonated five car and suicide bombs outside U.N., Ethiopian government and local administration buildings in the autonomous northern regions of Puntland and Somaliland, killing more than 30 people. "They are willing to expand their war," says Menkhaus. "And Ethiopia, Kenya or Djibouti are next...