Word: shadower
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What I call the McMafia - the new international criminal networks - now dominates a shadow economy which accounts for around 15% of the world's GDP. Inextricably bound up with straightforward criminal markets is a spiraling level of corruption throughout much of the world. For a common strategy of criminal syndicates is the "capture" or "semicapture" of a state. American and European law-enforcement agencies now categorize the West African country of Guinea-Bissau as the world's first "narcostate," a place where the levers of official power are now entirely at the disposal of operations moving cocaine from South America...
...international financial flows, which has both facilitated criminal behavior, as trillions of dollars slosh around the world, and made it much more difficult to combat crime. Winer and his colleagues identified the development of a coherent global anti-money-laundering strategy as key in trying to stem the shadow economy's swelling river. But it proved an uphill struggle. The sums involved in the liberated capital flows were vast. By mid-1990, the foreign-exchange markets alone reached a volume of trading that exceeded $1 trillion every day - more than 40 times the value of daily global trade. Keeping track...
...America. And, as is often the case, the door to the outside is more exciting than the door to the inside. The international terminal of Logan Airport, high-ceilinged and abuzz with travelers, invokes adventure and exoticism. North Station, by contrast, is a dark concrete platform in the shadow of the Boston Garden. There’s no adventurers here—just commuters, lined up to travel into the country’s inner rooms...
...Guard secular establishment is now backing a lawsuit aimed at banning the democratically elected AKP, casting a shadow over Turkey's prospects, at least in the short term. The suit seeks to bar the party and its members from political activity for allegedly violating Turkey's constitutional prohibition against mixing politics and religion. The move has rattled markets. After tripling from 2002 through last November, Turkey's stock index has dropped 32%. The global credit crunch has not helped. The ratings agency Standard & Poor's in April cut Turkey's credit rating to negative from stable, citing a fraught political...
...President Faust should absolutely use the occasion to express this community’s moral outrage at DADT. It would be offensive to our values for Harvard’s ROTC graduates not to begin their service in the shadow of the Pentagon’s repugnant discrimination. (These values are, incidentally, not just President Faust’s—there is no shortage of Harvard ROTC students who oppose DADT, but who are forced to keep their silence because of the military’s restrictions on their free speech...