Word: asianized
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Dates: during 1990-1999
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...December 17, the Asian American Association (AAA) announced its newly-elected 1999 Steering Committee. Emily Y. Yang '01 and Walter Kim '00 were elected co-presidents of the organization...
...agree "the demise of self-segregation should be lauded, not lamented." But there is something to be said about seeing faces on campus that are the same color as mine. Although only one of my closest friends is Asian American, I took comfort in seeing many Asian faces every day at Harvard. Now that I am at a law school where the Asian American population is significantly smaller, I feel less comfortable, even though I have never enveloped myself in an Asian American community...
...rates anymore ? that's now the job of the European Central Bank, which has to fit one monetary policy to 11 different countries. It's going to be very frustrating." If the euro works for Europe ? attracting investment, increasing efficiency ? look for a South American currency, or even an Asian currency, a decade or two down the road. But if this deal gets torn up over political squabbling, says Baumohl, "it'll be like World War III." Or a marriage on the rocks...
Even so, Robert Hormats, vice chairman of Goldman Sachs International, believes that "for most of Asia, the financial situation has stabilized, but the region has not yet turned the corner." Markets are recovering, and some currencies are rising in value after a wild spiral of devaluations. Moreover, most Asian countries are beginning banking reforms, while governments are spending more to stimulate their economies. A worldwide lowering of interest rates, led by the U.S. Federal Reserve Board, has helped support an improved outlook...
True, the 1997-98 crash has left Asian countries, companies and banks with manufacturing overcapacity and huge debts, which have to be reduced. That, says Hormats, "means more bankruptcies, more unemployment and continued recession for most of 1999" as the excesses are written off. But the free fall is over: Thailand and South Korea, in his view, might begin to grow a bit by the end of 1999, while Japan will improve--though only from negative to zero growth. General recovery region-wide will not begin until...