Word: panics
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...Asian families often spend half of their weekly budget on food, more than double what Western households spend. In an effort to contain spiraling domestic prices, major rice producers, including India and Vietnam, have sharply curbed exports - disrupting global supply chains, fueling more inflation, and prompting rice hoarding and panic-induced shortages. Asia is experiencing one of the uglier aspects of globalization: as countries have become increasingly reliant on one another for vital products, they have also become more vulnerable to external shortages and price spikes as they ripple around the world...
...have inspired cries of unity. "From now on, we will fight for ourselves," one Chinese woman in San Francisco wrote in a Chinese Internet forum. "We know it is our ever-stronger motherland that's frightening the western world. It is our development and confidence that's causing them panic. From certain aspect, a new Chinese value has formed through the torch, and all the Chinese people are coming together once again...
...sand problem has to do with entrenched bureaucratic interests," says sinologist Perry Link of Princeton University. "People who have devoted the last 25 years of their careers to 'opposing splittism' can't stop chanting that mantra without puzzlement over what to say instead and without a bit of panic about their own rice bowls and even, almost, their own identities...
...sand problem has to do with entrenched bureaucratic interests," says sinologist Perry Link of Princeton University. "People who have devoted the last 25 years of their careers to 'opposing splittism' can't stop chanting that mantra without puzzlement over what to say instead and without a bit of panic about their own rice bowls and even, almost, their own identities...
Financial regulation is usually born of financial disaster. The Panic of 1907--during which several big New York City banks actually did fail--led to the creation of the Federal Reserve. The Great Depression, unleashed by a market crash and countless bank runs, gave us the Securities and Exchange Commission, the Federal Deposit Insurance Corporation, and the Glass-Steagall Act separating banks from Wall Street. Now we're up to our elbows in another mess, albeit one that has yet to acquire a name for the ages. (Credit crunch? Subprime meltdown? Give me a break!) And so, as foreclosure follows...