Word: risinger
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Ten years ago, much of Asia suffered an economic wipeout that makes today's crisis seem like a rounding error. In Indonesia, the currency lost over 80% of its value, long-serving dictator Suharto was driven from office and hundreds of ethnic Chinese were killed in a racist pogrom. Prices...
Now faced by a yawning chasm between urban and rural incomes and rising unrest in the countryside, the Chinese leadership has taken a cautious middle road, stopping short of allowing outright sale and purchase of rural land and instead approving the trading of the peasants' leases and extending terms beyond...
The coming downturn is already shaping up as different from--and tougher than--some previous ones. That's because the financial crisis is taking place at the same time as a real estate downturn, a conjunction that is unusual; in the past, one has often followed the other, but it...
"Recessions tend to raise divorce rates," says Nobel laureate and University of Chicago Graduate School of Business economist Gary Becker. "But you won't see a pandemic." Census Bureau figures show that over the past 2 1/2 decades, recessions have had only minor effects on divorce rates, which have been...
Mazhar Hussain could scarcely conceal his delight. Revving the engine of his white pickup truck laden with over a ton of rice and spices, the 35-year-old driver from Pakistan-administered Kashmir says his dream would soon be realized. "I've never been to the other side of Kashmir...