Word: rale
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Dates: during 2000-2009
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...debt levels. "It was transfusions of credit that made the economy buoyant, but if there's no growth from credit now, what will support the economy in the longer term?" worries Véronique Riches-Flores, chief European economist at Société Générale in Paris...
...exchange posted cumulative profits last year of $133 billion, attesting to the efficient, globalized nature of the nation's businesses. When it emerged last January that accused rogue trader Jérôme Kerviel had allegedly cost his employer, Société Générale, $6.86 billion for uncovered transactions, more than just a financial scandal was revealed. The case was also concrete proof, should any have been needed, that the French no longer matched their mythic status as a profit-eschewing, socially minded alternative to the dog-eat-dog Americans...
...Glenn Maguire, chief Asia-Pacific economist for Société Générale in Hong Kong, expects that Asia's central bankers will move towards looser policy to support their economies and head off any possible liquidity shock from the U.S. meltdown. "It's pretty clear that the tightening cycle in Asia is over," says Maguire. Tuesday's market tumble will likely convince policy makers "to be much more accommodating on policy immediately." That may be the only good news in a dark day for investors...
...flood of new business has continued unabated. Among the most recent deals: cosmetics giant L'Oréal signed an agreement in June to build a new factory in the Kaluga region; and French bank Société Générale took a controlling stake in Rosbank, which has more than 650 branches across Russia...
...tighten credit to get inflation under control. But these same measures suppress the investment and consumption that generates growth, threatening to put the brakes on Asia's unusually fast and relatively untroubled expansion. Glenn Maguire, chief Asia-Pacific economist for Société Générale in Hong Kong, estimates that GDP growth in East Asia (excluding China and Japan) could sink from about 6.5% this year to 5% in 2009, the slowest rate since 2001. Inflation, Maguire says, "is the largest risk to Asian growth since the financial crisis...