Word: retrench
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...words should be music to the world's ears. As debt-laden consumers in the U.S. retrench, increasingly wealthy Chinese consumers could become one of the most important sources of growth for the global economy. Shoppers in China are opening their newly stuffed wallets wider than ever. Passenger car sales surged 76% in October from a year earlier, while overall retail sales jumped 16.2%. Such spending has contributed to China's robust recovery from the global economic crisis. Gross domestic product grew a hefty 8.9% in the third quarter from a year earlier. (See TIME's photoessay "The Making...
...Confidence in its financial position has allowed StanChart to take advantage of crisis-created opportunities. As competitors retrench to repair tattered balance sheets, the bank is expanding its market share in key areas such as trade finance. It has boosted lending to small enterprises in Asia at no risk by participating in loan-guarantee programs implemented by governments to free up credit markets. Sands has also continued making strategic acquisitions, including the purchases of Cazenove Asia, a regional stock brokerage, and a 75% stake in another broker in India. Just as important, Sands has been beefing up the management ranks...
...proxy fight for the Republican Party's approach to life in political exile. On one side are Koh's opponents, who want to harness Beck's populist appeal to stay on the offensive for a variety of causes. On the other are Koh's supporters, who want to retrench around sober messages of lower taxes, smaller government and American supremacy, and wait for public opinion to swing back in their favor. "Koh is just a surrogate" for that fight, says Norm Ornstein of the American Enterprise Institute...
Opportunity is the silver lining embedded into every crisis. With so many sectors in flux, savvy players will reap rewards. But executives are demonstrating an unwillingness to retrench, and the report mounts a persuasive case for why that's a dangerous thing. Emerging from the tumult unscathed requires a clear-eyed look at the recession's bleak realities-and the talents of a turnaround artist. "The global economic landscape will be changed for at least a generation," the authors write. "Preparing for that eventuality now is essential." Perhaps because they have more to lose from not doing so, the cream...
...Others argued that the international community would mobilize around this indictment, justifying Ocampo’s actions. This cold calculation of politics for blood was wrong. Instead of increasing aid or taking multilateral action against Darfur, the UN remains silent about NGO expulsion. Why? China is unwilling to retrench its support for Sudan. It blocked a basic press statement from the UN Security Council that would have condemned Khartoum for this retaliatory injustice. The African Union and the Organization of the Islamic Conference, two potential sources of international support in the region, remain silent, and are unlikely to act against...