Word: spigots
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Dates: during 2000-2009
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...evaluate existing plans before adding new ones. But it isn't just officials in Berlin who might spend time in Halle seeing what an injection of money can and can't do to a local economy. Governments from the U.S. to China - anyone who believes that opening the fiscal spigot can stave off disaster, and especially those who think that public spending can polish up rustbelt cities like Detroit or Harbin - would be advised to take some east German lessons. (See pictures of Detroit's decline...
...Australian nickel mine only eight months after it officially opened. The most visible turnaround has been in oil. A year ago, Western governments were pleading with Persian Gulf oil states to ramp up production as oil sped toward $150 a barrel; today, OPEC is twisting off the spigot in an attempt to support crude prices around $50. The International Energy Agency expects oil demand to fall this year at the steepest rate since the early 1980s. Some experts believe prices may stay depressed for years to come, due to greater energy efficiency, technological improvements in oil production and greater availability...
...external cash infusions now that its economy has flatlined. Vietnam has also racked up a massive trade deficit with China. As more Chinese companies venture across the border and sink millions into new investment projects, Hanoi can't dictate all the terms. Nor can they just close the spigot. "The Vietnamese have to be careful of what they wish for," says Thayer...
...Funding [an Afghan] force this size will be a major challenge - especially if it succeeds," says Stephen Biddle, a military expert at the Council on Foreign Relations. While the West will pump in the billions needed to fund the force during wartime, they'll turn that spigot off as soon an uneasy peace emerges. "Yet, the Afghan government is very unlikely to be able to pay these costs itself even if we make optimistic assumptions about economic growth and government revenue extraction potential," Biddle says. "The result could easily be a postwar Afghan security force too large...
...defense contractor who has enjoyed a decade of bottomless Pentagon funding, it was Gates' comments about a struggle much closer to home that are keeping you up at night. "The spigot of defense spending that opened on 9/11 is closing," he said. "With two major campaigns ongoing, the economic crisis and resulting budget pressures will force hard choices on this department...