Word: asianized
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Dates: during 1990-1999
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Ever cautious, Greenspan warned in October that labor markets were tightening at an "unsustainable" pace. And he has never recanted his belief that the Fed should tighten credit mildly at the first signs of renewed inflation. But for now the Asian crisis has put on the shelf any plans for an interest-rate boost. Maybe the good times can roll a little longer...
...wave of bankruptcies by conglomerates, or chaebol, crashed down on the country's banks, flooding them with write-offs for bad loans. Defaults of a comparable magnitude in Japan's $4.2 trillion economy, which is nearly 10 times the size of Korea's, could turn the so-called Asian Contagion into a worldwide pandemic that could even threaten the health of the soundest peacetime expansion in U.S. history...
...worst weeks yet in the region's financial turmoil, fears that the IMF's largest-ever handout would not salvage matters dragged down every Asian market and currency, especially Seoul's. That situation could reverberate ruinously in Japan. Not only is Korea in hock to Japan for at least $24 billion, but a further deterioration of the Korean won--which has lost a staggering 50% of its value against the U.S. dollar this year--would make it harder for Japanese products to compete with Korean exports, from cars to steel to electronics. That in turn would plunge Japan deeper into...
Japan will have to do better than that. It is vital for Hashimoto & Co. to show other Asian countries that they have the will to confront their financial problems. Otherwise there will be no one left capable of leading Asia out of its economic mess or of sparing the rest of the world similar trouble...
Melissa Mathison's script dares to tell an Asian tale with no Westerners, not even Brad Pitt. At two, Tenzin Gyatso is found in a remote village and proclaimed Buddha's incarnation. Schooled and coddled, he grows to manhood. He confronts Mao and his acquisitive legates, and he finally flees to India...