Word: modell
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...growth engine to replace the economically sputtering U.S., and as the U.S. looks increasingly to Asia for consumers to sell to and governments to borrow from, the question hovering over the summit is, Can the leaders of the world's fastest-growing region find a new economic model that works for both East and West? (See pictures of the global financial crisis...
...This marks a big change. As Thailand's Prime Minister Abhisit Vejjajiva said during the recent ASEAN summit, "The old growth model where, simply put, we have still to rely on consumption in the West for goods and services produced here, we feel will no longer serve us." This is especially true because China, which is poised to overtake Japan as the world's second largest economy, is an increasingly important trading partner for countries such as Japan, South Korea and Indonesia. "Asian firms would do better to reorient their exports and production towards meeting the demand of Chinese consumers...
...Asian free-trade zone would aid economic growth by cutting import duties and eliminating the murky morass of trade barriers that impedes commerce. A model to emulate would be the establishment of the E.U., which made it far easier for companies to import and export their goods within Europe, says HSBC's Webb. Establishing a common Asian currency similar to the euro would allow companies to ship goods or arrange credit with less exposure to currency risk. "A barrier to trade over the last year in Asia has been fluctuating currencies," Webb says. "For a small- to medium-sized business...
...province of Ilocos Sur, in the northern part of the archipelago, hangs out with Pacquiao all the time. He styles himself a kingmaker but is unclear whether Manny can be a king. "He is so humble," Singson says. "He's a simple person." Singson, however, may be a role model for Pacquiao. The governor amassed his fortune as a tobacco-plantation owner and travels in a private plane and in a bulletproof Hummer. He is an epitome of Philippine politics, where power grows out of barrels of patronage. Political reformers worry that that is the style Pacquiao has been learning...
...imbued in tracks by Panda Bear, Thom Yorke (with and without Radiohead), capture the melting, quiet terror of a modern generation; videos unveil landscapes and devastation upon the backdrop during “Faith in Ourselves,” and then, scenes later, the sleek curves of a new model vehicle in “The New Anny.” “What fascinates me is her use of textures,” offers one art critic during “Untitled.” “I think there’s a great sensitivity here...