Word: asianized
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Dates: during 1990-1999
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...more than 7 percent Wednesday, international money managers remain concerned about stability of economies throughout Southeast Asia, says TIME business reporter Bernard Baumohl. Last month's Thai currency crisis has International Monetary Fund managers sufficiently spooked to put the prospect of a major banking collapse in shaky Southeast Asian markets atop the agenda of this month's IMF meeting. "These countries aren't experienced in financial calamity," says Baumohl. "They really don't know how to protect themselves, and may not even have the resources...
After the Dow posted a record 257-point gain yesterday, investors in Southeast Asian markets pushed ahead. Hong Kong's Hang Seng index had it's biggest point gain ever, soaring 978.66 points to close up 7.13 percent at 14713.99. Markets from Australia to Taiwan also recorded strong gains...
...despite the news, many fear that the region's decade-long expansion is coming to an end. "It certainly looks like people were overly optimistic about the Southeast Asian economies," says Baumohl. "They pegged their currencies close to the U.S. dollar, but they didn't have the same strong conditions there that the U.S. is experiencing." In a surprise effort to stop the slide, Malaysia last week restricted stock trading. But that further scared investors, worsening the fall...
...fiery plane crash in Cambodia (Reuters) ... Arizona Governor Fyfe Simington has been found guilty on seven counts of bank fraud (All Politics) ... Vice-President Al Gore has denied knowledge of campaign finance wrongdoing (TIME Daily)... Big Tobacco increases wholesale cigarette prices nearly 8 percent (TIME Daily) ... Volatile Southeast Asian markets could cause a banking collapse (TIME Daily) ... and your GP may not know his stethascope from his elbow (TIME Daily...
...famous week in 1992, he made $1 billion betting against the British pound, earning him the grudging title of the Man Who Broke the Bank of England. This summer Malaysian Prime Minister Mahathir Mohamad accused him of being a criminal. He said Soros the speculator had attacked Southeast Asian currencies to punish their governments for admitting the Burmese military regime--which Soros the humanitarian opposes--to asean, a regional political and trade organization...