Word: asia
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Dates: during 1990-1999
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...newest book, Golden Arches East: McDonald's in East Asia, deals with, among other things, the notion of consuming culture: "How non-Americans often view the consumption of Big Macs and french fries as consuming American culture and everything associated with it," as put by Andrea O. Brobeil '98, one of his students and a literature concentrator...
...There's a potential here for an enormous train wreck," an administration official told the New York Times. "It's not clear, however, that there is much we could do to prevent it." More details about U.S. concerns for Japan and Asia were expected Thursday when Federal Reserve Chairman Alan Greenspan and Deputy Secretary of the Treasury Lawrence H. Summers testify before Congress...
...annual growth for the U.S. in the next few years, about a third lower than his more optimistic peers. He places only marginal emphasis on the hit U.S. companies and the domestic economy will take directly from the depressed levels of business activity in struggling Asia...
Before Monday's near meltdown, there were already flickering signs of trouble. The markets in emerging Asia had been sliding for several months--a year in the case of Thailand. Those markets were down 20% to 40% even before the Monday panic. Somewhat suddenly a few weeks ago, the selling spread to more seasoned Hong Kong--the East's most solid economy--whose stock market declined 18% in the week leading to America's market problems. When the U.S. market finally buckled on Oct. 24, the stage had been set for a massive case of the jitters. As the week...
...taking note of the situation on Friday, but not feeling any particular concern about how the market would behave come Monday. "There was a choppiness," Grasso told TIME. "There was a feeling that we had had two bad days. There was a feeling that the markets were weak in Asia and that there might be a spill-back. But no one expected a 550-point drop." Grasso felt confident enough to fly to Paris over the weekend for a Monday meeting. He was interrupted at 2 p.m. Monday in Paris--8 a.m. in New York City--by NYSE president William...