Word: robustness
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Dates: during 2000-2009
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Those bullish on global economic recovery have their data points: the steady upward climb of world stock markets, three straight months of Chinese manufacturing expansion, the weak dollar. But there are still plenty of skeptics of a rapid and robust turnaround, with their own set of numbers to cite: continued bleeding of private-sector jobs in the U.S. and Europe, more record lows in new home construction, and, er, the weak dollar. (Watch TIME's video of Peter Schiff trash-talking the markets...
...prosperity seems much too much dependent on a real estate bubble.) In two generations, by contrast, Japan and South Korea, developed two of the world's most vibrant, innovative economies out of the ashes of truly devastating wars. On the foundation of successful economies, both built a superstructure of robust democratic societies - in the case of South Korea, one almost thinks, at times, too robust. And yet, as Obama pointed out, they have been able to maintain their cultural heritage; more than that, as anyone who buys Japanese designer goods or watches South Korean TV soap operas knows, they have...
...That's because the story of the mother of six who suddenly expanded her brood by eight is not being produced for the American market but for another market nearly as robust - the market that enjoys watching Americans being crazy...
...they have plenty of muscle for acquisitions. China's leverage ratio is 15.8, Hong Kong's is 14.3, India's is 11.6, South Korea's is 16.7. Having gone through rehab after the 1997 Asian financial crisis, the region's financial institutions went into the current Great Recession with robust balance sheets that they can now leverage up by acquiring the assets that Western banks are shedding. China's banks are in a particularly sweet spot. Grown fat on years of sizzling GDP growth, Bank of China (2008 profit: $9.7 billion) has a leverage ratio of only...
...that could arise from the design limitation in the AOA processing algorithm." Airbus also told investigators that this particular mathematical formula for flying the plane is found only on its A330 and A340 models. "Different algorithms were in use on other Airbus types, which were reported to be more robust to AOA spikes," the report said. "The manufacturer advised that AOA spikes matching the above scenario would not have caused a pitch-down event on Airbus aircraft other than an A330 or A340...