Word: low-cost
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...Reithofer is more upbeat. Faced with low-cost competition from Asia and Eastern Europe, he says, "many German firms did their homework, and now they are benefiting from it." He thinks Germany could go further, for example, in reducing high nonwage labor costs. But Germany still has competitive advantages, he says, pointing to its traditional engineering prowess combined with a newer ability to cater to the needs of individual clients. The challenge, he tells TIME: "It's all about mastering complexity...
...natural resources, which has also boosted its strategic importance to trade partners as far afield as the U.S., India and China. Li Ruogu, head of the Export-Import Bank of China and co-chair of the forum, said his bank has invested in over 300 projects in Africa, from low-cost housing to schools to mining ventures. Li, a key player in the blossoming romance between China and Africa, said he's visited more than 20 African nations in the past year alone. Others are eyeing the region more intently, too. A panel of moneymen from companies like JP Morgan...
...more than doubled over the past 10 years, and the average annual income has almost tripled to $6,200. Nearly 80% of Latvia's exports - from timber to textiles to farm machinery - now heads to markets in the West. Tourism is booming, too: last year, ferries, cruise ships and low-cost airlines disgorged 1.5 million visitors in Riga, up from 1.1 million the previous year. Visvaldis Lacis, an 83-year-old author and parliamentarian, recalls that under Soviet rule the kgb stopped every ship entering and leaving the harbor to check for spies and stowaways. Lacis now watches...
...low-cost plan to pipe satellite television into student dorm rooms via power lines could be implemented in some of the Houses as early as this fall. The final decision as to whether a House will get the technology will lie with its masters...
...carriers find themselves in a peculiar bind. Demand is high: the number of domestic travelers is forecast to grow at least 25% a year through 2010, according to the Sydney-based Centre for Asia Pacific Aviation (CAPA), an industry consultancy. Yet carriers such as low-cost upstarts Air Deccan, IndiGo, GoAir and SpiceJet have added so many flights--even though there's no place to land them--that profit-destroying fare wars have broken out. Air Deccan, for example, advertises a fare of just $6.60 plus taxes for a 45-min. flight from New Delhi to Jaipur. Add in higher...