Word: panic
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Dates: during 2000-2009
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Only a few years ago, Hong Kong was gripped by panic that the rapidly ascending Chinese city of Shanghai was set to usurp its coveted position as China's premier financial hub. Shanghai's budding stock market and burgeoning financial community were supposed to be the future; Hong Kong, the fusty remnant of a colonial past...
...happened even faster. Within days of the Austrian ultimatum, the delicate web of international credit was torn to shreds. German trading companies ceased to remit the money they owed to brokers in London. European investors rushed to withdraw their money from New York. As nervous banks called in loans, panic selling swept the world's financial markets. But the further asset prices fell, the worse the crisis became. Securities that had been the collateral for immense pyramids of debt were suddenly unsellable. The central banks had to admit they lacked the means to stem the outflow. The only...
...wasn't so long ago that conservatives believed that George Bush's presidency would usher in a political realignment that would last for decades. But as the right looks forward to the next election, something close to panic is setting in. Surveying the leading G.O.P. contenders for 2008, direct-mail guru Richard Viguerie pronounces "not a one of them is worthy of support from conservatives." Says Craig Shirley, a public relations executive who represents many conservative groups and who has written a book on the Reagan revolution: "There's anger, there's angst, there's dismay in the conservative movement...
...most part, though, companies muddled through. Paul Hsu, a Hong Kong banker, says that while the Internet was running slowly, there was no panic at his office. "Things are pretty chill here," he says. Steve Rowles, an analyst at CFC Seymour stock brokerage in Hong Kong, says his company was unable to use its normal trading system on Wednesday but kept operating by routing buy and sell orders through its main office in Switzerland. But he noted that trading volumes were light because the outage occurred between Christmas and New Year's Day. "If this had happened two weeks from...
...discerning Chinese collectors in the model of the influential Saatchi. But that's unlikely to affect the demand for modern Chinese art, since many of the newly minted millionaires simply don't have anywhere else to put their cash. "It's what I call the panic of new money," says Zhao, 45, who manages the venerable Courtyard Gallery. "The government is killing the property market, the stock market has been up and down like a bouncing ball, and people don't trust it. They can only buy so many Mercedes. They have to put their money somewhere, and right...