Word: asia
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Dates: during 1990-1999
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...Mahathir's plan, of course, baldly flouts all the IMF's ?- and nearly everyone else?s -- current wisdom on saving Asia. According to their formula, a package of stopgap loans and high internal interest rates can protect the currency and attract foreign capital in the short term by restoring investor confidence. Follow that with swift and painful economic reforms, and recovery should be imminent. But for Mahathir, flipping the Western economic establishment the bird is part of his plan?s allure. The West, Mahathir insists, fears a ascendant Asia, with its large Muslim populations and strong governments, and is gleefully...
...links, what better time to take a whack at golf stocks. That's the pitch for a new golf fund, due out this fall, that will invest in equipment, apparel makers and course developers. But before you pull a Big Bertha from your wallet, remember that Asia's woes have been a drag on industry stars like Callaway Golf and Family Golf Centers...
...error occurred while processing this directive]Fortune Investor Data All in all, a poor performance from the markets closest to the eye of the storm. But it's a picnic compared to the continuing collapse in Asia. The Nikkei sank to a 12-year low. Hong Kong, which had seemed immune on Thursday, plummeted on news that it had joined Japan in the recession club. The former colony's economy shrank a whopping 5 percent in the second quarter, virtually wiping out all of 1997's gains in one go; officials had originally predicted 3.5 percent growth. "This is outside...
...pushing the Dow down 257 points -- and the NASDAQ 81 -- by the close of trading. "The Russian economy is in total collapse," says TIME business reporter Bernard Baumohl, "and although U.S. traders have very little direct exposure to it, they're very nervous about what could happen to Europe, Asia and Latin America if the political system goes with...
...cheap yet? Clearly, they're cheaper than they were two weeks ago. But are they Russian-ruble cheap? So ugly that they scare the dog? The answer depends largely on whether you believe that interest rates will fall further and corporate earnings will hold up in the face of Asia's spreading ills. A quick scan of Wall Street illustrates the debate. At Paine Webber, chief strategist Ed Kerschner holds the rosy view that stocks "have not been this cheap since October 1990." Chief guru Abby Cohen at Goldman Sachs similarly says, "Stocks are trading at undervalued levels...