Word: retailing
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...group sold off its entire diamond stock and now sells only diamonds it mines itself (40% of global output). Gone too is the secrecy: De Beers now has a small army of public relations experts keen to produce executives for journalists and is even opening its own retail outlets on some of the world's more well-to-do main streets...
Since 2002, annual foreign direct investment in the mainly Muslim but officially secular country of more than 70 million people, which has traditionally served as a crossroads between East and West, has jumped more than 30-fold, to about $22 billion. Investment in banks, retail and commercial real estate has risen sharply. Turkish businesses have been investing aggressively in oil-rich Russia and the Middle East. All told, an economy that was shrinking as recently as 2001 expanded more than 5% a year through last year...
...Russia last year, up from $15 billion in 2005. They are poised to take advantage of the $1 trillion that Russia says it will spend on infrastructure by 2020. And while Turkey refused to permit U.S. troops to invade neighboring Iraq from its territory in 2003, Turkish construction and retail companies have since invested up to $10 billion in the war-torn country...
...Paralympic fencer Jin Jing became a national hero (dubbed "the wheelchair angel" by the Chinese media) for her attempts to protect the Olympic torch from pro-Tibet protesters in Paris. But after she questioned the wisdom of a call by some nationalists on the Internet to boycott the French retail giant Carrefour, Jin found herself the subject of Internet attacks branding her "unpatriotic" and a "traitor...
...from the material--and it's easy to see why chasing the least expensive workers isn't nearly as imperative in tie manufacturing as it might be elsewhere. There's also the convenient fact that customers are willing to pay a premium to shop at Brooks: its ties retail from $75 to $165. "If the customer doesn't care about the price, then the retailer shouldn't care about the cost," says Mike Todaro, managing director of the American Apparel Producers' Network...