Word: asia
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Dates: during 1990-1999
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...forecast can measure the volcanic threat created by the crisis in Asia. Economists generally blame the drop in stocks on slumping U.S. exports to the stricken region. The decline limited the growth of U.S. corporate earnings--a key determinant of stock prices--with industries from chemicals to aerospace reporting lower profits in the second quarter than in the same period a year ago. "Asia is unpredictable," says Allen Sinai, chief global economist for Primark Decision Economics. "I can't guarantee that there will be no recession in the U.S. next year because no one can be sure about Asia." Observes...
...employers' expenses. But the glory of the economy today is its remarkable balance. While labor costs are indeed rising, they are largely offset by the growing productivity of American workers, who are among the most efficient in the world. And although the strong dollar curbs U.S. exports, particularly to Asia, it also drives down the prices of imports, from clothing to cars and cameras, and thereby keeps inflation under control...
...With the Dow still dropping, traders will be watching the Export and Import Prices report tomorrow for confirmation of what we all suspect: that economic problems and weaker currencies in Asia are causing cheaper goods to flood into the U.S. while weakening the markets for domestic goods and services abroad...
...although the indicator is still up 8.4 percent on the year, that figure was once 18 percent. Is the boom of the Clinton years finally over? Kadlec says that with so many people with money in the stock market, recession worries could be self-fulfilling. "The effects of Asia are hitting U.S. companies hard, but consumers at home are still spending," he says. "But if the stock market stays gloomy, people are going to stop feeling wealthy." And that will be when the economy dries up. So keep your heads high and your wallets open -- your economy needs...
...ASIA'S NEW ORDER...