Word: regions
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...Indeed, even though inflation throughout the region is likely to continue to rise in coming months, no one is expecting an economic calamity. "We don't believe that Asia will run into another financial crisis," says Park Cyn Young, senior economist at the Asian Development Bank in Manila. Asian countries have large hard-currency reserves and relatively healthy banks, and so are far better prepared to absorb external shocks than they were during the region's last recession 10 years ago. "This time, [Asian policymakers] have learned their lessons and will be more alert...
...thousand more newcomers the next day. And the elaborate water-management scheme that made southern Florida habitable has been stretched beyond capacity, yo-yoing between brutal droughts and floods, converting the Everglades into a tinderbox and a sewer, ravaging the beaches, bays, lakes and reefs that made the region so alluring in the first place. "The dream is fading," says University of South Florida historian Gary Mormino. "People think Florida is too crowded, too spoiled, too expensive, too crazy, too many immigrants - name your malady...
Still, the winters really are great! And this doom-and-glooming might sound familiar. In 1981, TIME declared crime- and drug-plagued South Florida a "Paradise Lost." The region then embarked on an epic boom. Southeast Florida - including Miami, Fort Lauderdale, West Palm Beach - ballooned into the nation's seventh largest metro, while southwest Florida - Naples, Cape Coral, Fort Myers - became the fastest-growing metro. Last year 82.4 million visitors found their way to this lost paradise. And last month Governor Charlie Crist unveiled a $1.75 billion deal to buy the U.S. Sugar Corp. and its 187,000 acres...
...having an ecological and hydrological meltdown, the legacy of a century of plumbing and dredging and growing without much thinking. The Everglades ecosystem now hosts 69 threatened or endangered species, and its rookeries and fisheries have crashed. Massive algal blooms are turning Florida Bay into pea soup. The region's reefs have lost up to 95% of their elkhorn coral; persistent red tides have made it tough for sunbathers to breathe at the beach...
...rainiest swath of the country is running dry, facing a specter of structural droughts. And the dike around Lake O. is leaking so badly that water managers routinely dump billions of precious gallons out of the lake to avoid a 1928-style calamity, ravaging estuaries and draining the region's water supply. This spring the lake fell so low that 40,000 acres of its exposed bottom burned out of control, along with 40,000 acres of the perennially parched Everglades National Park...