At the same time, many companies in Asia source a sizable percentage of raw materials from their own country, so they are paying relatively less for inputs -- yet they sell in U.S. dollars.
Oklahoma City-based Chesapeake began looking to Asia as a source of capital, says Mr. McClendon, the CEO.
Shares dropped 40% between July and October 1997 because recession in Asia threatens major source of revenues, but has since rebounded 30%.
The ethnic-Chinese business networks across East Asia were a crucial source of capital during the economic boom.
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Beyond that, Tiffany wants to increase its European store count by 56% in the next five years, and continues to target Asia as a particular source of growth.
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In turn, that means that the Middle East will become relatively more important to Asia as its dominant energy source.
He identifies Asia and Europe as the source of a large percentage of the world's junk e-mail, as well as other countries that are well insulated from American prosecution and lack strong cybercrime laws.
The company is a huge beneficiary of globalisation: able not only to source its products at low cost in Asia but to sell the finished goods there as well (there was a near-riot in Beijing when customers could not buy the latest iPhone).
The greatest source of downward pressure on South-East Asia's currencies comes from local firms desperate to service their foreign debts.
Traditionally, banks in developing Asia have cared little for the consumer, other than as a cheap source of funds to be shovelled into the maws of the big companies that were their chief customers.
China recently completed a 1, 100-mile gas pipeline to connect its factories and power plants to the vast gas reserves of Central Asia, part of China's stiff competition with Europe over a key energy source.
Black carbon is said to be a significant source of rapid warming in the northern United States, Canada, northern Europe and northern Asia.
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