Word: asia
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Dates: during 1990-1999
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EUROPE: The euro made its trading debut Monday in true honeymoon fashion: lots of ceremony and no problems. In trading from Asia to Europe to Wall Street, the world's new currency heavyweight rose steadily against the U.S. dollar and delivered, for one day at least, on its promise of European prosperity by sparking market rallies in Germany and France. But TIME senior economics reporter Bernard Baumohl says Europe's new union faces some rocky days ahead...
...January. For now, Greenspan rates a gushy Christmas card for helping the rest of the world get through an economic crisis that, so far, Americans have only read about. Around the world, U.S. rate cuts provided the world with cheaper dollars to borrow, keeping domestic currencies afloat all over Asia. As we head into the holidays, the blaze is out, at least for now. And Greenspan the fireman is back on thermostat duty...
Even so, Robert Hormats, vice chairman of Goldman Sachs International, believes that "for most of Asia, the financial situation has stabilized, but the region has not yet turned the corner." Markets are recovering, and some currencies are rising in value after a wild spiral of devaluations. Moreover, most Asian countries are beginning banking reforms, while governments are spending more to stimulate their economies. A worldwide lowering of interest rates, led by the U.S. Federal Reserve Board, has helped support an improved outlook...
...conclusion hardened within days. The FBI took Odeh and al-'Owhali into custody in Nairobi, and they began spilling secrets. The security protecting bin Laden's network was porous, and other informants began talking, revealing that bin Laden planned assaults on other U.S. embassies in Africa, Asia and the Middle East...
...King Jr. covers only three years, but they were complex and fateful times. Lyndon Johnson ascended to the White House and rammed through the Civil Rights Act of 1964, a triumph for King. But his doctrine of nonviolence was being challenged by Malcolm X, and a war in Southeast Asia escalated. Branch's book is an eerie chronicle of deaths foretold...