Word: steepness
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Dates: during 2000-2009
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Despite this favorable environment for golf shoes, GEOX's success is no gimme. First, the shoes are expensive, ranging from $160-200. Some golf shoes in the market cost even more, but that's still a steep price during down times. Plus, golf is a crowded marketplace; in the U.S., for example, Nike owns 56% of the market. With Tiger Woods returning to the course, in his usual Swoosh-clad clothes, an upstart like GEOX is unlikely to make a serious dent. "It's not like the industry is crying out for a new brand or a new idea," says...
...find real Nishi, too. A shaman wanders into our camp, his hornbill cap adorned with a mirror and a majestic eagle feather. One night, three silent Nishi fishermen carrying torches pass our camp. We watch their silhouettes flicker and vanish into the steep night forest. They had lit torches to find their way, and to scare off tigers and evil spirits. I shiver, glad that we're on the river, and just passing through...
...Some economists argue it is unrealistic to expect that China, which saw its slowest growth in seven years last quarter, will be able to boost its domestic demand through short-term spending enough to mitigate steep declines in global trade. "The idea that China will be helping the rest of the world is a myth," says Ben Simpfendorfer, a Hong Kong-based China economist for the Royal Bank of Scotland. "Almost half of what it imports is related to export processing. A large share of the remainder is commodities. It imports little for its own consumption. That befits its status...
...Asia offered no joy either. Manufacturing data released Monday made it clear the global recession was undermining the previously robust Chinese economy. It wasn't the only one suffering. Japan reported a steep drop in car sales, while South Korea said it was experiencing the same kind...
...short run, Asia is finding itself powerless to adjust quickly to the swift, steep decline in trade, which is not limited to U.S. exports. Trade among Asian countries is also plummeting, because much of this intraregional commerce is indirectly dependent upon Western consumption. A high proportion of Taiwan's trade with China, for example, has been made up of electronic components shipped to Chinese factories for assembly into finished products - which eventually wound up on the shelves of stores in the U.S. As a result, Taiwan's China trade is contracting twice as fast as the island's U.S. exports...