The Lexus And The Olive Trees


: The Lexus and The Olive Tree
Summary: Opening Scene: The World Is Ten Years Old.
“ The trouble spread to one continent after another like a virus.” USA Today
On December 8, 1997, the government of Thailand shut down 56 of their countries finance houses. These finance houses borrowed heavily in U.S. dollars and lent those dollars out to Thai businesses for the building of hotels, office blocks, luxury apartments and factories. Almost overnight, these private banks had been bankrupted by the crash of the Thai currency, the baht. This situation caused a domino effect on other leading businesses that caused money problems. Many businesses couldn’t pay the finance houses ...

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make anything of value. Without much of a growing economy, the Russian government became dependent on taxes from crude oil and other commodity exports to fund its operating budget.
The hedge funds – the huge unregulated pools of private capital that search the globe for the best investments – were the transmission device from Russia to all the other arising markets in the world, particularly Brazil. The declines in Brazil and the other emerging markets became the delivery that triggered a herdlike stampede into U.S. Treasury bonds. The abrupt drop in the yield on U.S. Treasury bonds was then the transferal device, which twisted more hedge funds and investment banks. In order to make money in such a profoundly competitive world the hedge funds had to look for more exotic bets with larger pools of cash.
The cold war system that had dominated international affairs since 1945 had been replaced by a new interconnected system called globalization. World War 1, the ...

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he ordered four oranges and each time he got something different, such as orange juice and peeled oranges. Another time at the Metropole Hotel in Vietnam he ordered tangerines and the waiter said there were none left. The waiter then asked if he wanted watermelon and he said yes, and instead of watermelon he brought four tangerines.
He is the foreign affairs columnist for The New York Times and he describes it as the best job because he gets to be a tourist with an attitude. He is the fifth foreign affairs columnist in the history of the Times and it is actually the paper’s oldest column. This column started in 1937 by Anne O’Hare McCormick and she covered the disintegration ...

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"The Lexus And The Olive Trees." Essayworld.com. October 15, 2008. Accessed December 6, 2019. http://www.essayworld.com/essays/The-Lexus-And-The-Olive-Trees/91476.
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PAPER DETAILS
Added: 10/15/2008 01:26:01 PM
Category: English
Type: Premium Paper
Words: 2343
Pages: 9

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