That might sound more like retrenchment than global expansion but it has an appeal.
The retrenchment cost millions in separation pay and strike losses, but it paid off.
Saudi Arabia has been an exception to this pattern of retrenchment, for several reasons.
Retrenchment by companies is a more likely culprit for the more recent drop in activity.
This retrenchment was offset, and made possible, by a dramatic fiscal swing in the opposite direction.
Yet we found no evidence that Iran plans fiscal retrenchment or any scheme to sustain oil investment.
Was this the beginning of the next Great Depression or just a brief period of financial retrenchment?
But Mr. Kerry also publicly questioned whether a military retrenchment was possible given the current international outlook.
Japan needs stimulus in the short term and credible plans for fiscal retrenchment in the long term.
An ambitious retrenchment program by Ghosn, installed as Nissan's president in June 1999, is apparently paying dividends.
So it should come as no surprise that this slow-or-no-reform period coincides with a time of political retrenchment.
The retrenchment needed to deal with these financial difficulties hurt not just patient care but also Labour's reputation.
In our view, the outcry at Yahoo's retrenchment shows the destabilization of the rational myth of face time.
This view has adherents at the ECB, which wants faster fiscal retrenchment by members of the euro area.
So what's needed now is not simply a fiscal retrenchment, or even a retrenchment along with banking reform.
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Spending cuts will by 2014-15 make up four-fifths of Mr Osborne's extra tightening and three-quarters of the total retrenchment.
If that construction worker doesn't take a trip to California, then it causes a retrenchment in the L.A. economy.
That will raise their contribution to the overall retrenchment to 4.6% of GDP.
For the time being at least, liberals hope, this retrenchment will be shelved.
Nor was there any government retrenchment no matter how much people gave privately.
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But, as Nouriel Roubini and Christian Menegatti point out in a recent report, that retrenchment is modest by historical standards.
Business consultants in India blame such labor standoffs on what they call lack of transparency in retrenchment or layoff policies.
What lies ahead, by contrast, is a period of retrenchment as households repair finances that have become top-heavy with debt.
In the face of fiscal retrenchment, crisis in the Eurozone, and a stubborn housing market, Bernanke sped up the printing press.
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This did not reduce its debt, but it sent a message that the bingeing was over and the retrenchment had begun.
Both of them implement austerity via fiscal retrenchment, but Obama has a greater focus on revenues while Ryan focuses on outlays.
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The bond market's skittishness puts more pressure on the Greek government to come up with a credible plan for fiscal retrenchment.
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The sector continues to go through a retrenchment, and it seems a logical step to reduce expectations for the group going forward.
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Recall the collective angst over and instantaneous political reaction to U.S. Preventative Services Task Force's retrenchment in late 2009 on breast cancer screening.
That is to say, fiscal retrenchment worth 1pc of GDP will cut output by half as much, or around 0.5pc over two years.
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