Word: asianization
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...politician, Villaraigosa--who in this race assembled a coalition of black, white and Asian voters as well as Latinos--has long sought to reach beyond his own community. But as mayor of L.A., which is 47% Latino, he is destined to become an icon of the nationally emerging Latino political class. There are two Latino U.S. Senators and 22 Latino mayors in cities with more than 100,000 residents...
...investor madness that have gripped Asia in recent decades: the giddiness over Japanese stocks in the late 1980s, the Hong Kong property bubble of the 1990s, euphoria over Chinese red chips in 1996-97, and the mad rise of Thai banking stocks before the carnage of the 1997-98 Asian financial crisis. Today, as always, there are pockets of mania that could well end in mayhem?from the Shanghai property boom to delirious foreign investment in overheated Indian midcap stocks...
...everyone else regards as toxic can seem almost reckless. In 1998, Wadhwaney?then running a hedge fund for Third Avenue?loaded up on imploding shares of the Noble Group, a Singapore-listed shipping and commodities firm that was losing money; he subsequently rode it to a fiftyfold gain. "The Asian crisis was just madness," he says. "It was wonderful...
...walking Tokyo's streets. On May 27-28, 1905, Japan's fledgling navy soundly defeated Russia's Baltic Fleet, sinking 21 ships in two days and ending the bloody Russo-Japanese War. The Battle of Tsushima exploded the idea of European military superiority and established Japan as an Asian world power for the next four decades, until the atomic bombs dropped on Hiroshima and Nagasaki?just 200 km south of Tsushima?put an end to the Japanese Empire...
...Burma's failure to improve its human-rights record is testing the world's patience. The Bush Administration has announced it will renew sanctions against the junta, citing the government's suppression of the country's democratic opposition. And with Burma set to chair the Association of Southeast Asian Nations (ASEAN) next year, its neighbors are trying to persuade the country's military dictators to "voluntarily" give up their turn, so as to avoid the embarrassing prospect of the U.S. and E.U. boycotting the forum's meetings. On that, at least, Rangoon appears to be listening: Sihasak Phuangketkeow, Thailand...