Word: researching
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...part, Novartis now spends more than $1 billion a year on ensuring better access to medicines. The firm has built two research labs dedicated to preventing and curing neglected diseases such as dengue fever and tuberculosis and has pledged to eradicate leprosy. (Read "A Vaccine That Could Help Wipe Out Malaria...
...small but rigorous study, Andrade separated 40 participants into two groups of 20. All 40 had just finished an unrelated psychological experiment, and many were thinking of going home (or to the pub). They were asked, instead, whether they wouldn't mind spending an additional five minutes helping with research. The participants were led into a quiet room and asked to listen to a 2½-min. tape that they were told would be "rather dull...
...suit. In the fourth quarter of 2008, Taiwan's GDP contracted 8.4% from the same period a year earlier, the worst quarter on record. South Korea's GDP shrunk 3.4% in the fourth quarter, Singapore's fell 3.7% and Hong Kong's dipped 2.5%. Eric Fishwick, head of economic research at brokerage CLSA in Hong Kong, predicts these dismal numbers will persist. He sees Singapore's GDP contracting 10% this year, while South Korea's will decline 7%, Hong Kong's will slide 5% and Taiwan's will drop, stunningly, by double digits. "We've never seen an external shock...
...what governments can do. Exports are simply too important to the tiger economies to be easily replaced. They represented 74% of Taiwan's GDP and 46% of South Korea's in 2007. "You can't change the [export] model," laments Song Seng Wun, an economist at CIMB-GK Research in Singapore. "You just have to make sure everyone can take the downturn...
...tigers really want to thrive in the future, the answer might lie in rejecting another legacy of Park Chung Hee: the idea that governments alone can successfully engineer high economic performance. Jim Walker, an economist at independent research firm Asianomics in Hong Kong, argues that politicians still intervene too much in their economies instead of allowing market forces to work. "What governments need to do is start trusting their own people rather than hoping the West is going to get it right all of the time," Walker says. For the tigers to keep roaring, they may need to find their...