Word: waved
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Dates: during 2000-2009
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...pretty clear why China is hitting the skids. The country's economic transformation over the past 25 years has led a great wave of globalization during which the mainland's once small and isolated economy became much bigger and deeply integrated into global commerce - making it more exposed to the business cycles of its big trading partners like the U.S. "The huge elephant in the China shop is the slowing global economy," says Merrill Lynch Asia economist T.J. Bond, who cites an obvious reason: China's manufacturing sector, which accounts for 43% of China's GDP, depends heavily upon sales...
...pain is already being felt. Stanley Lau, deputy chairman of the Federation of Hong Kong Industries, estimates that export orders at some 70,000 factories owned by Hong Kong companies in southern China have declined 5%-10% this year compared with 2007. Recent months have seen a first wave of bankruptcies and closures among the tens of thousands of factories in industrial zones from Guangzhou to Shanghai that make toys, jeans and PCs bound for U.S. retailers...
...What film directors have inspired your work? Alan Eggleston, Grand Rapids, Mich. Thousand Years was very much influenced by a Japanese director called [Yasujiro] Ozu. Princess of Nebraska is a tribute to the French New Wave - to directors like Jean-Luc Godard...
...they're just buying a cup of tea." Heap, who opened the shop less than a year ago, has dropped her prices 25% and let some staff go. She remains upbeat about the future, but with Canary Wharf on her doorstep, she concedes, "I do feel a slight wave of fear...
...seeing companies across a wide variety of sectors that are struggling," says Sam Rovit, who heads up Bain Corporate Renewal, the optimistically named restructuring division of Bain & Company. If the credit squeeze doesn't loosen up quickly, he expects a "tidal wave of bankruptcies among large companies...