Word: markets
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Dates: during 2000-2009
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...doing so by buying Islamic, connecting to their Muslim roots by what they eat, wear and play on their iPods. Rising Muslim consumerism undermines the specious argument often heard after 9/11: that Muslims hate the Western way of life, with its emphasis on choice and consumerism. The growing Muslim market is a sign of a newly confident Islamic identity - one based not on politics but on personal lifestyles. "Muslims will spend their money more readily on halal food and products than on political causes," says Zahed Amanullah, European managing director of the California-based Zabihah.com, an online guide...
...numbers ... 16% - Halal's share of global food industry $632 billion- Annual halal food market 1.6 billion- Worldwide Muslim population...
Food Non-Muslim multi-nationals such as KFC and Nestlé dominate the halal food market. But Muslim- owned manufacturers such as Dubai-based Al Islami - which sells everything from chicken burgers to packaged ingredients - are growing fast...
...sure, the two stock market slumps in 2006 and 2008 created negative wealth effects. High-net-worth businessmen have been hit by the current global financial crisis. But there is no doubt that the macroeconomic picture is solid and healthy. Over the next five years Saudi Arabia has outlined a $400 billion spending program. In a decade or thereabouts, Saudi Arabia will become a $1 trillion economy and will be better placed than the rest in the region to capitalize on its knowledge and strengths. During the boom years, some critics said Saudi Arabia should become more like Dubai...
...make a policy decision that no recent President has shown the guts to make but that would be greatly in the national interest. A stiff new gas tax, phased in as the economy strengthens, would push new-car demand toward more fuel-efficient vehicles just as the U.S. market for cars improves and auto production ramps back up. That would both stimulate the market for new cars and help curb our self-defeating addiction to buying oceans of oil from countries that wish us ill. It would be unpopular, of course, but many responsible things are. Revenues from such...