Word: traded
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Dates: during 1990-1999
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Last week's fiasco in Seattle was a disaster for all concerned, tarnishing the image of the city and leaving only broken windows and smashed hopes for a new round of trade accords. The World Trade Organization (WTO) conference there was plagued by overly simplistic approaches on both sides. A wiser process would be able to address labor and environmental concerns while maintaining open global commerce...
...easy to stop the trade. UNITA has already amassed a fortune from illicit diamond sales, enough to continue its hostilities virtually indefinitely. Diamond analysts calculate that UNITA made more than $2.5 billion from diamond sales between 1992 and 1997, and last year collected at least $225 million. U.N. researchers and human-rights lobbying groups put the figure far higher. By any estimation, Savimbi's 40,000-strong UNITA must be the richest rebel movement in the world...
...perhaps the only--reason to believe in Son's ambitious plan is that it already seems to be working. Yahoo, E*Trade and GeoCities, among others, are not only dominant among U.S. customers but lead a long list of Softbank companies that Son and his lieutenants say account for more than 90% of all Internet commerce in Japan. As the world's second largest economy has caught on to the power of the Net in the past year, Softbank's stock, which is traded on the Tokyo exchange, has soared. The company's market capitalization is a stunning $79 billion...
...Japanese bankers desperate to breathe life into their country's sagging economy. Son lured a couple of Silicon Valley veterans to run Softbank Technology Ventures, the San Jose partnership that has become the heart of his Internet empire. And so the shopping spree began, as Softbank scooped up the trade-show group that organizes Comdex, the computer industry's biggest convention, and Kingston Technology, a memory-board maker. Son bought all of Ziff-Davis Publishing and its television and Internet assets for $3.2 billion, a price considered at the time a few degrees north of insane...
This week Bove is back in America, in Seattle for the opening of the World Trade Organization's new "Millennium Round" of trade-liberalization talks. The symbolism of the trashed McDonald's looms large over the proceeding. As Bove stands at the barricades with thousands of demonstrators, most of them protesting against the WTO and everything it stands for, food is again on his mind...