Word: effecting
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...attempt to curb a big appreciation of the national currency, the baht. Coming just three months after a military junta seized power, the move spooked foreign investors and sent Thai stocks plunging nearly 15% in a day before the government partially reversed itself. Yet there was no regional domino effect. Some Asian markets dipped in reaction to the Thai scare, but they quickly rebounded. What has changed? Among other factors, Asian governments today have far more balanced accounts, higher foreign-exchange reserves and less debt, while the region's corporations are now better financed. "There was no worry of contagion...
Until the big war, that is, World War I, which triggered 70 years of deglobalization - tariff walls, capital controls and autarky. Politics produces those exogenous factors economists always invoke to hedge their optimistic bets. Which is why we can't count on the decoupling effect forever...
...could dismember Muqtada al-Sadr's Shi'ite militia, a positive domino effect would follow. President Bush should tell Prime Minister Nouri al-Maliki that unless he lets us crush al-Sadr's forces, we'll pull out. Iraq is the strangest war the U.S. has ever fought, in the sense that the Iraqis seem to hate one another more than they hate...
...have the last word: He retorted Wednesday by noting the right's tax cuts had largely favored the wealthy to justify reiterating his pledge to reverse them. He tried to soften that blow - but only made his squeeze look ill-informed - by noting that the resulting increases would only effect around 200,000 people whose monthly take-home pay exceeds $4,300. Besides, Hollande seemed to sneer, the proposal has long been part of the official program of the party his candidate-cohabitant is supposed to be humbly representing...
...American Civil Liberties Union (ACLU) of Massachusetts is dead-set against the law, in effect and in principle. A lawyer sitting on the group’s legislative council, Ann K. Lambert, says that “people who live in Boston are always in school zones...