Word: asianized
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Dates: during 1990-1999
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...huge sell-off in the U.S. because of the Asian problems probably is not justified. The region isn't that vital to overall corporate earnings. But this is the way panics start: denial turns into confusion, and everyone rushes to be first out. If you're nervous, consider playing it safe for a while, especially if you can shift assets without tax consequences, as in a 401(k) plan. If you're a risk taker, look for a spot to start buying in battered Asia. There are plenty of stock mutual funds that target the Pacific Rim. Asia has become...
...could face an Asian double whammy, at least in the short run. First, the region's economic crunch will probably cause its consumers and companies to buy less from America. Second, sales by U.S. firms in Asia won't add as much to their bottom line because Far Eastern currencies are worth 20% to 40% less than they were just a few months ago. Warns Sung Won Sohn, chief economist at Norwest Corp., a large bank based in Minneapolis, Minn.: "The collapse of Hong Kong and other Asian economies is spreading like an oil slick that will continue to wash...
...that is bad. Slamming on the brakes of a runaway market may help prevent a worse crash later. Also, devaluation of Asian currencies will make Asian exports cheaper, help keep inflation at bay in the U.S. and deter the Federal Reserve from raising interest rates...
...Analysts expect the roiled markets to spell high interest rates, sending the Chinese enclave's crucial property market into a tailspin, leading to economic slowdown, lost jobs and continuing trouble for other nations in the region, particularly Japan, which has a big investment in Hong Kong and other Southeast Asian real estate...
...Hong Kong is one of the more stable denizens of a region where the once grand gown of the Asian Miracle is weekly growing more frayed and tattered. From Seoul to Bangkok, economies that earlier made annual double-digit growth look easy are now strangling on a lethal brew of skyrocketing interest rates, current-account deficits, shrinking budgets and rapid flight of the foreign loans and capital that in many countries underwrote the miracle. "Right now my feeling is one of despair," says a Jakarta stockbroker who has watched the Indonesian stock market drop 33% since July. (It was down...