Word: unrest
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...aside any of their windfall, or shortsightedly budgeted on sky-high prices - and more than a few fall into both categories - are grappling with tumbling revenues. The reality of lower oil prices for countries such as Iran, Nigeria, Russia and Venezuela in 2009 is likely to include political unrest, massive cuts in public spending, and rocketing inflation and unemployment. "The brutality and speed of the price decline is a huge shock economically and politically for some of these countries," says Didier Houssin, director of energy markets and security for the International Energy Agency in Paris...
...country where car-burning isn't a common symptom of socioeconomic unrest, news of so many automobiles being torched would be alarming - if not a sign of brewing insurrection. In France, however, word of the destruction that accompanied the evening the French call Saint-Sylvestre was met with a mix of Gaulic shrugs and low-grade peevishness...
...depth of the slowdown becomes clearer, voices from all quarters have warned of the dangers of unrest. In mid-November, President Hu Jintao said the crisis would be a grave test of the Communists Party's ability to rule China, a warning echoed by other lower ranking leaders. At a December speech, Premier Wen Jiabao confessed to being particularly worried about unemployed workers and university graduates. Even the head of the country's Supreme Court warned judges to take social stability into mind when passing rulings. Overseas, too, worry swelled about just how deeply China's fragile social compact might...
...center-right majority has a slim Parliamentary majority, has ignored calls for early elections. Political observers say a budget vote slated for the coming days could undo his coalition, though paradoxically the violence may help him hold onto power as allies do not want a government collapse during the unrest...
...timing of the charter's release is sensitive not just because of the significant anniversaries this year, but because the global economic slowdown has increased the potential for political unrest in China. Thousands of factories in the south have closed, and demonstrations by workers over unpaid wages have become a frequent scene in the regions of the country that have been driving China's double-digit growth. China's exports dropped last month for the first time in seven years, and as many as 9 million migrant workers are estimated to be returning home due to the slowdown. The World...