It would be foolish to assume western democracies are immune.
Though the Dutch financial markets then had none of today’s technology, they employed many of the same practices that traders use today. Investors bought securities, sometimes borrowing money with loans secured by the shares they were buying. In today's language, they bought shares on margin. Lenders protected themselves by demanding a “haircut” – collateral in cash or securities that exceeded the loan amount by a specified percentage. If the value of the securities dropped below that specified percentage, the lender would demand that the investor put up additional money to stay in line with the haircut. If the investor couldn’t come up with the added margin, the lender was entitled to liquidate the securities and recoup the loan amount.
Concerns about the vulnerability of some emerging economies and gyrations in financial markets over the past few days should not dent “cautious optimism” about the global economy this year, leading central bankers and officials said on Saturday.
在纽约市许多公寓楼的大门背后，充斥着居民们不协调的抱怨声。从我的“房地产答疑”(Ask Real Estate)专栏所收到的抱怨信中，我们可以一窥居民们是如何应对生活在拥挤、昂贵的住房中的种种不顺心的。比方说，有个合作公寓的股东被邻居家的老鼠窝吓坏了；有一对父母被禁止将婴儿车推进楼内的电梯；有个租户厨房里的橱柜从墙壁上掉了下来。
In March, Ford completed its exit from the luxury car market by selling Volvo to China's Geely Automobile for $1.6 billion. Although the sale represents a sharp loss - the company paid $6 billion for the Swedish automaker eleven years ago - Ford posted an annual profit of $2.7 billion in 2009, its first profitable year since 2005. Assisted by the 'Cash for Clunkers' program (not to mention Toyota's accelerator woes), Ford recaptured its position as the nation's largest carmaker in February. Which is why Ford's CEO Alan Mulally can now look abroad, including big markets like India, where it recently introduced the compact Figo.
Most observers would think the single-aisle Comac C919’s first flight last May (pictured) is illustrative of this, but while it is a key milestone, it does not represent the whole story about what is happening in the industry. Two other events are much more telling.
Here's a list of the top 10 most anticipated movies in 2016 that we believe will become box office hits and would be worth watching more than once.
The joint programme delivered by Tsinghua and Insead University (Tiemba) moved up two places to lead the 2015 global executive MBA ranking, dethroning Trium, which drops back to third place after only one year at the top.