Word: tigers
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...Much of a Good Thing the problem with the tiger economies is that, four decades on, the spirit of Park Chung Hee is alive and well. While the mix of products may have changed from sneakers and stuffed toys to microchips and flat-panel TVs, the tigers remain heavily reliant upon exports to power growth. And like any addict, they're now experiencing the pain of rapid withdrawal as factories close and millions of workers across the region lose their jobs. Homelessness is on the rise in South Korea's capital, Seoul, where at 2 a.m. each night the city...
...which includes funding for construction of better bridges and more subways. Singapore in January announced a $13.4 billion "Resilience Package" that will increase the country's budget deficit to a record level. Yet there is a limit to what governments can do. Exports are simply too important to the tiger economies to be easily replaced. They represented 74% of Taiwan's GDP and 46% of South Korea's in 2007. "You can't change the [export] model," laments Song Seng Wun, an economist at CIMB-GK Research in Singapore. "You just have to make sure everyone can take the downturn...
...Building a Better Tiger Asian leaders for years have recognized the need to reduce dependence upon exports to the developed world. But as long as the engine wasn't broke, they weren't inclined to make extraordinary efforts to fix it. Now, it appears Asia's primary growth driver is, at the very least, badly bent. Meaningful reforms that diversify the sources of economic growth may be needed if the region is to avert a prolonged period of moribund economic activity...
...swimming and diving looks to make a splash tomorrow in East Meadow, N.Y. at the three-day Ivy League Championships. The Crimson (6-1, 6-1 Ivy) has been cruising through its season, losing only one meet to the reigning three-time Ivy League champion Princeton Tigers (7-0, 7-0). When Harvard faced the Tigers earlier this month, Princeton escaped by a narrow 22-point margin, and this weekend the Crimson is looking for revenge. Harvard is in an eerily familiar position heading into the weekend’s meet. Last year’s squad was also...
...Journal of Social Issues paper suggests this dilemma has become less burdensome in the age of Tiger Woods and Barack Obama. The paper's authors, a team led by Kevin Binning of the Stanford Graduate School of Business and Miguel Unzueta of the UCLA Anderson School of Management, studied 182 multiracial high schoolers in Long Beach, Calif. Binning, Unzueta and their colleagues write that those kids who identified with multiple racial groups reported significantly less psychological stress than those who identified with a single group, whether a "low-status" group like African-Americans or a "high-status" group like whites...