Word: asianized
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Dates: during 1990-1999
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Fairbank Center for East Asian Research Director Ezra F.Vogel: President Jiang Zemin has also said that, although this has been unannounced, he is willing to take a question from the audience. This is completely unrehearsed, and I hope that some of you will think of a question. Can I call upon somebody in the audience here who would like to raise a question? President Jiang Zemin has said that he would like to hear, first of all, from an American, and so--[audience unrest is audible]. This is for an American audience--Yes, this woman right here. This woman...
Jiang was flanked by Rudenstine; Dean of the Faculty Jeremy R. Knowles; University Marshal Richard M. Hunt; Director of the Fairbank Center for East Asian Studies Ezra F. Vogel; Li Daoyou, the Chinese ambassador to the United States; Qian Qichen, China's vice premier and foreign minister, and James Sasser, the U.S. ambassador to China. Jiang entered Sanders on schedule and promptly received a 20-second standing ovation...
However, he added that "in this specific case, the Fairbank Center [for East Asian Studies, the event sponsor] has not handled this one very well...
...that companies can't thrive without exports to Asia; it's that ebullient investors have put such absurdly high prices on stocks that even a minor disappointment in earnings will let out a lot of air. Consider Citicorp, which gets about 20% of its profit from Asia. Cut the Asian profit in half, and the bank's overall earnings would decline from an estimated $9.54 a share next year to $8.57. Even if Citi's stock sells at 15 times earnings, the same lofty valuation (for banks) it commanded before the crisis, the price would fall from its recent...
...that U.S. stocks deserve a trim in light of Asia's weakened economies. The big risk is that the selling gets overdone. Now that investors have seen a connection they were blind to a few months ago, they might panic, fearing the kind of rout in U.S. stocks that Asian markets experienced. There were moments last week when you could feel that sort of tension...