Word: oiling
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...world might be sinking into its worst recession in generations, but China is on a wild shopping spree. Sitting some $2 trillion of cash reserves, Beijing is taking advantage of the woes of others to cement its grip on new sources of commodities ranging from olive oil to crude oil -often at fire-sale prices...
...China's growth rate may be slowing in concert with the world economy, but even at that slower rate, its economy continues to expand, requiring a steady increase in supplies of oil, copper, aluminum and other minerals. And laying in sources of supply for those commodities also helps it prepare for the next boom. As economies across the world shrink, Chinese officials have told reporters in Beijing in recent weeks that they see a rare chance to expand its sources for primary commodities. "There are editorials in the Chinese press saying that this is a one-in-one hundred-year...
...range of stimulus measures. In November Beijing announced it will spend $586 billion this year to promote growth. While few details of the stimulus plan have been made public, the government says it will use tax cuts and loans to aid 10 key industries including machinery manufacturing, steel, textiles, oil, shipbuilding and electronics. (See 10 things to do in Beijing...
...thing that all financial calamities have in common is that they are unexpected, at least by the officials who are supposed to keep an eye out for these things. There were no plans for oil prices to spike up before the Arab Oil Embargo in the 1970s and no roadmap to follow after the S&L crisis the following decade. Banks can be brought down by fraud and errors in large gambles made on proprietary trading desks. Most of the things that cause systemic failure are unexpected and therefore cannot be prevented...
...Marche is an outstanding area for fresh food, and the kitchens are kitted out for some serious dining, with thoughtful extras like exquisite local olive oil. Though Borgo Tranquillo (www.borgotranquillo.com) is perfect for soaking in the sun, guests are as likely to be lured by year-round mountain-biking, truffle-hunting and palazzo-visiting. And because each apartment has a striking wood-burning stove, every busy day out can be followed by some cozy tranquillo time...