Word: 1980s
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...other lesson to be learned is not to exaggerate the consequences of these trade disputes. Back in the 1980s, Americans mistook Japan's edge in trade as a sign of their own economic ruin. Today, the whole idea that Japan was supposed to shove the U.S. economy into oblivion seems quite silly. What most Americans didn't understand is that U.S. economic success didn't depend on making TV sets; it was based on the technological innovation at which Americans excel. Beginning in the early 1990s, the U.S. experienced one of its most sustained economic booms ever in part...
...First of all, the causes of the trade disputes then and now are very much alike. In both cases, Americans blamed other countries for problems they created themselves. In the late 1980s, Akio Morita, Sony's flamboyant co-founder, was one of the most outspoken about Japan's economic conflicts with America. He argued that all of the bickering about currency rates and corporate practices were somewhat irrelevant. The U.S. trade deficit, he wrote at the time, was "a result of commercial transactions based on preferences." Translation: Americans simply wanted to buy lots of things from Japan. The problem...
...Since the late 1980s, several elite law schools have instituted similar—though less extensive—Public Service Loan Repayment Programs (PSLRPs) that help graduates repay educational loans if they pursue a public service career. The percentage of debt repaid by the university varies based on the loan interest rate and salary earned by the student, and the specifics of each program differ from school to school. Nonetheless, all of these programs help to ensure that debt will not dictate the career choices of students by encouraging graduates to pursue nonprofit careers...
...fired a shot at Hizballah. And like Jumblatt, government ministers are marked men. Meanwhile, the American warship USS Cole is heading to the Mediterranean, but if the U.S. staged any military action against Hizballah, the group could take American hostages in Lebanon just as they did in the 1980s...
...including a crisis meeting between the two men in London over the weekend, the issue is unlikely to be resolved, and there is a real chance that the two parties will slide back into the destructive merry-go-round of power swapping and political mudslinging that predominated in the 1980s and '90s. And, of course, if the PPP finds itself unable to work with Sharif's party, it could always seek a new deal with the opposition, which comprises Musharraf's own political supporters. After all, a Musharraf-PPP coalition was exactly what Washington had in mind last year when...