Word: riches
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Dates: during 2000-2009
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...Asia's premier island escapes did not always profit from their coastal charms. Phuket came into its heyday in the 19th century when Chinese tin miners exploited its mineral-rich hills. Later, fortunes were made in rubber trees. The island's main city was originally inland from the Andaman Sea to distance itself from possible devastation by tsunamis or typhoons. So, too, in Bali, where the rich cultural legacy of the Hindu Majapahit culture drew bohemian Western visitors in the 1930s who were mystified as to why most Balinese turned their backs on the lovely beaches, even forsaking fish from...
...SAGRA, SPAIN Hitting the Bricks Spaniards refer to the crash of their once booming real estate and construction industries as a "crisis of bricks." In La Sagra, they take that phrase literally. Located about 40 miles (65 km) south of Madrid, the clay-rich county produces roughly 30% of Spain's bricks, and boasts the greatest concentration of brickworks in Europe. But right now, La Sagra's factories aren't making much of anything. "The warehouses are full," says Carlos Duque, general secretary for the Castilla-La Mancha branch of the construction workers' trade union MCA-UGT. "They just...
...Growing up with a famous editorialist father (New York Times editor Frank Rich), was writing something that came naturally? Was there any pressure to fill his shoes...
...urban and rural areas, Spelman detailed the visibility of the “trappings of luxury” in Shanghai, as well as the “huge change” they have represented. “The mentality is to be a successful entrepreneur—to get rich is glorious, and those who do so achieve national progress,” he said. Spelman, now retired, also discussed how the personal values of the Chinese have been affected by profound social and political change, the trajectory of China’s political and economic structure...
...capital flight. According to Finance Minister Alexei Kudrin, the country has lost between $10 and $15 billion of foreign direct investment and its stock market is down close to 50 percent this year. Despite the global financial crisis affecting all markets, a considerable part of such downturns for energy-rich Russia can be attributed to investors’ fear of the Kremlin’s aggressive foreign policy and consequent isolation...