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Those fears were abundantly evident in a recent Conference Board report showing that consumer confidence took an unexpected dip, sliding 11 points in February, and the present-situation index, which measures consumers' opinions on current economic conditions, plunged to its lowest level in 27 years. "People are scared," says Herzberg. (See the worst business deals...
Every year, even at the peak of Vietnam's dry season, when the Red River is at its lowest, Hanoi's skilled captains manage to negotiate their flat-bottomed boats through its shallow waters. But this year, with a drought gripping the entire country and water levels at record lows, the river is eerily quiet. What is normally a bustling waterway is becoming a winding river of sand, and farmers who depend upon the river for irrigation are watching the expanding sandbars as nervously as the boat captains. "If there is no water in the coming days," says 59-year...
...Across Vietnam, high temperatures and parched rivers are setting off alarm bells as the nation grapples with what's shaping up to be its worst drought in more than 100 years. At 0.68 meters high, the Red River is at its lowest level since records started being kept in 1902. With virtually no rainfall since September, timber fires are burning in the north and tinder-dry conditions threaten forests in the south. Soaring temperatures in the central part of Vietnam have unleashed a plague of rice-eating insects, damaging thousands of hectares of paddies. "It's the beginning of everything...
...region most affected - and the one that affects the most - is the Mekong River Delta in the south. Water levels in the nation's rice bowl have fallen to their lowest points in nearly 20 years, threatening the livelihoods of tens of millions of people who depend on the river basin for farming, fishing and transportation. The biggest problem, however, is not the water. It's the salt. During the dry season, when channels and tributaries run dry, seawater can creep more than 18 miles (30 km) inland. Vietnam has installed a series of sluice gates to hold back high...
...money is certainly welcome in Nepal, which has the lowest per capita income in South Asia. But the jockeying for influence between China and India may be undermining Nepal's fragile democracy, as the country's 24 political parties trade charges of being pawns of one or the other. Even a tiny royalist party, supporters of Nepal's deposed King Gyanendra, have gotten into the act, staging a rally in Kathmandu on Feb. 22 that shut down the capital for a day. Meanwhile, the parties are debating complex constitutional issues, including a proposed federal system of 14 ethnicity-based states...