Word: asia
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Dates: during 1990-1999
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...consensus on Wall Street and in Washington, where, in both places, it is undeniably lucrative to be bullish, is that Monday was the mistake; Tuesday set things right. The believers in this sort of "new economy" school see the sell-off as an overreaction to an economic slowdown in Asia, a development that heralds only a modest drag on the U.S. economy and the earnings of U.S. companies...
...little guy did Tuesday, buying even more. "There is no reason to think the U.S. stock market is going to go into a bear market," says economist Allen Sinai at Primark Decision Economics. "The U.S. economy is not going to be knocked down by the crisis in Asia...
...trying to alert us to budding economic troubles before it was summarily dispatched to the pound. "It's always wise to take the message of the market seriously," says Hugh Johnson, chief investment strategist at the brokerage firm First Albany. "The message is that the currency crisis in Southeast Asia will affect not only the economies of Southeast Asia but also that...
...dread scenario goes something like this: the emerging Asian economies--Thailand, Malaysia, Indonesia, Singapore and the Philippines--either slow sharply or sink into recession, and the ills spread throughout the rest of Asia, including Japan, which ships nearly half its exports to those countries. Japan's already sluggish economy buckles further, and because it is America's third largest trading partner, its difficulties are felt in the U.S., and ultimately throughout the world...
...debate about China. Forget constructive engagement," I argued. Forget embargoes, trade sanctions and all the rest. The way to foster political liberalization and free market capitalism in the huge country is to somehow pump "Baywatch" into the homes of all its people. You know, a kind of 'Radio Free Asia' for the David-Hasselhoff-deprived. If China would just succumb to American pop culture like the rest of the world, my thinking went, it couldn't be long before it adopted our values as well...