Word: turmoils
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...Weiss has been much on my mind lately. I invested in his fund in 2004 - and as I watch the daily drubbing of everything else I own, I'm painfully reminded that I should have heeded his warnings about the turmoil that lay ahead. While most of us were lulled by the financial stability and heady growth that preceded the recent meltdown, Weiss, who is also professor emeritus of economics at Boston University, was a prescient doomsayer. In 2005, when everyone else was bullish, he wrote to his shareholders that global markets looked "very treacherous" and warned about rampant borrowing...
...Instead, worries are growing that a severe economic downturn in the U.S. and Europe could hurt export-driven Asian economies more than originally thought. Turmoil in Europe as governments scramble to cobble together their own bailout packages has convinced Asia that the contagion will spread far from Wall Street. "We felt pretty good that our economies are stronger," says Song Seng Wun, an economist at CIMB-GK Research in Singapore. "Problems seemed to be other people's problems." But recent events "have made us realize that we aren't entirely safe. It looks like the problem might be closer...
...With no end to the turmoil in sight, continued stress on Asian markets looks likely to continue. "We do not think the re-emergence of fear on account of the global financial crisis will likely evaporate anytime soon," Merrill Lynch commented in an Oct. 3 report. Once that fear sets in, it is hard to dispel...
...course, have a long way to go before they are as open and accessible to global capital flows as those in New York, London or Tokyo. But Chinese regulators believe the slow, deliberate pace of reform has helped insulate the country from the worst of the current market turmoil. Consider China's banks. Five years ago, by all accounts, they were a disaster area, plagued by bad loans, lack of capital and poor management. In 2003 nonperforming loans made up 17.9% of their total portfolios, according to government figures. By the end of last year, that figure had plunged...
While recent turmoil in the capital markets has kept most politicians focused on the state of the economy, the Harvard’s Nieman Foundation for Journalism hosted 14 of its fellows Friday for a day-long symposium addressing what is expected be another critical issue for the next administration: immigration. This year’s fellows—who will spend the academic year studying at Harvard as part of the nation’s oldest mid-career fellowship for journalists—attended three different panel discussions of academic and journalistic luminaries, including Patrick J. McDonnell...