Word: shockingly
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...amount of oil consumed as a proportion of economic output?has fallen by 83%, well in excess of the 50% decline experienced by the U.S. over the same period. Nevertheless, with China now Japan's largest export market, any weakening in Chinese economic growth traceable to the energy shock could do real damage to the nascent recovery in the Japanese economy...
...most part, globalization is a blessing for the world economy. But for a world that relies too much on U.S. consumption, it faces grave risk if that growth engine gets derailed. Such is the case with the energy shock of 2005. If the over-extended American consumer gets hit?as I suspect will happen?Asia could be in serious trouble...
...Welcome to Oil Shock 2005. The spot price of brent crude hit $68 last Thursday?up 44% in the past 12 months?before easing slightly the following day. With the price of oil on the rise, its effects in Asia, on producers and consumers alike, are everywhere to be seen. Last week Beijing continued its frantic push to secure foreign energy reserves when China National Petroleum, a state-owned oil company, trumped an Indian government-controlled firm with a winning $4.2 billion bid for PetroKazakhstan, a Canadian-owned firm with vast oil and gas reserves in the former Soviet republic...
...meantime, governments in the region are scrambling to cope with the oil shock?risking popular ire in the process. Malaysia, a net exporter of oil, cut its subsidies on gasoline and diesel fuel by 7% and 23% respectively last week. Indonesia did the same in March, increasing the price of gasoline by 29%. In Thailand, Prime Minister Thaksin Shinawatra, who last year resisted pressure to eliminate fuel subsidies during an election year, reversed course this year as the oil bills mounted. On July 12 he announced the end of subsidies, which he hopes will curb demand for oil imports that...
...shock waves from Beslan are still felt far beyond the town. Many Russians were profoundly shaken by the television footage of dead and terribly injured children. And the Kremlin's failure to protect its people was another blow to President Vladimir Putin's image as a tough, take-charge leader. For Stanislav Kesayev, deputy speaker of the North Ossetian regional parliament and a critic of the Kremlin's handling of Beslan, the chaos surrounding the school seizure and the botched rescue attempt is symptomatic of the way Russian officials treat ordinary people as "cattle." "I teach law," says Kesayev...