Word: steels
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Dates: during 2000-2009
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...state-of-the-art coal-fired power plant built by the German utility Steag, which alone provides about 5% of Turkey's electricity. When it started operations in 2003, the $1.5 billion plant was the biggest single foreign investment in the country. In nearby Isdemir, a giant steel mill built in the 1970s by Russian engineers using Soviet technology is undergoing massive renovation. Some 18,000 workers used to produce just over 2 million tons of steel here; now about 6,000 people produce almost three times as much - and the plant consumes less energy per ton of steel than...
...clinical depression? Morgan says it's too soon to tell: it depends on how long people remain unemployed. A full-blown recession lasting three or four years or longer would be cause for concern. Morgan cites increased rates of depression and suicide in British cities that relied on steel and coal manufacturing in the mid-1980s, when factories started shutting down permanently. And the suddenness of the current crash doesn't make things easier. Former Lehman Brothers employees, he says, "have some emotional catching up to do," because they hardly saw what was coming and went right into the euphoria...
...economic gains Vietnam has made. Once lucrative shrimp farms are dying, and the country's efforts to market itself as a tourist destination are undermined by images of poisoned rivers. And while it is doubtful that the Thi Vai river's chemical stew could actually eat through a steel hull, the threat that ships would not stop at the Go Dau port, delivered a clear message about the potential economic impact of pollution...
...true among large corporations too. "People are putting projects on the shelf because the uncertainty came in so fast," a FORTUNE 100 CEO tells TIME. "Everybody in the boardroom is questioning, You want to reinvest now?" And if businesses stop spending, the pain will be felt in industries from steel to construction to carpets...
...Consider two parallel graphs: one tracks the stock market during the past two weeks. Stamp it in steel and you could cut down a redwood with it. It's a jagged picture of uncertainty and confusion...