Word: gdp
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...factories are closed and rusting for lack of power, and the only things lit at night in the North's drab cities are grandiose statues of Kim Il Sung. Hospitals have no heat, no disinfectant, no anesthetic, no rubber gloves. Kim devotes nearly a third of North Korea's GDP to military spending, and finances ridiculous Pharaonic projects, such as the 105-story Ryugyong hotel that towers unfinished over Pyongyang...
...camp, who can't seem to decide if they need him more than he needs them or vice versa. In the meantime, nonperforming loans at the nation's banks have ballooned to between $420 billion and $1.05 trillion, the stock market flirts with 20-year lows and GDP growth is forecast to be no more than 0.2% for the fiscal year ending March...
...immediate fallout will not help her cause. Prior to the attack, the country's economy was growing modestly. Analysts now are cutting their forecasts. Chatib Basri sliced his 2003 GDP forecast from 4.4% to 3.7%. (The World Bank estimates that Indonesia needs at least 6% growth to create enough jobs for its burgeoning workforce.) Daniel Lian, an economist at investment house Morgan Stanley, says economic revival throughout Southeast Asia could be jeopardized if investors shun the region. As a result, he says, "Economies would be further marginalized and geopolitical risks raised in a vicious cycle...
...country's $5 billion tourism industry?which contributes about 3% of GDP?is expected to be devastated, possibly for years to come. The Mandarin Oriental Hotel in Jakarta saw 700 room cancellations in the days after Bali. Markus Schneider, the hotel's executive assistant manager says that the blast has taken hotel traffic "back to Sept. 11 figures. We were just getting back to normal." Last week, a regional high school soccer tournament, scheduled to take place in Jakarta, was hastily moved to Malaysia, taking scores of families and probably thousands of tourist dollars with it. But the real pain...
...military campaign to eliminate the guerillas. Action has been authorized for retaliation or to try to convince the fighters to negotiate, but not mobilization on a national scale for the purpose of killing large numbers of rebels. Even now, the government devotes only 3.5 percent of its GDP to the military—quite a laid-back response for a country under siege...