Word: boom
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Dates: during 1990-1999
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...transition has been amazingly smooth. Throughout the onerous negotiations, despite the revulsion in 1989 over the brutal bloodshed in Tiananmen Square, Hong Kong has grown steadily more prosperous. In a city whose business has always been business, the stock-market surge, real estate boom and expansive corporate behavior point to a bullish future. The place feels surprisingly relaxed. Public confidence in the new leadership is running high: C.H. Tung's favorable rating was 59%, according to a TIME/CNN poll by Yankelovich Partners Inc. While an estimated 387,000 citizens made a preliminary negative bet on the outcome and emigrated over...
...unbridled boom has brought wealth, yes, but it's wildly uneven. The typical Sunday shoppers crowding middle-class Beijing Street are looking, not buying. Most of Guangzhou's workers have little disposable income. Two 18-year-old youths stand in the spiffed-up Xinhua bookstore gazing at a paperback that at 8 yuan is beyond their means. For fun, they go to the zoo because it's free...
...says, "husbands just look down on them." Zhao used to be afraid to give a speech and could only read it, head bowed, eyes down. Now she speaks boldly and confidently, bubbling over with plans. Her daughter, 23, has gone to work as an accountant in the southern boom town of Shenzhen...
What makes today's economy one for the books, TIME's panelists say, is its rare combination of tireless growth and stable prices. The 1960s and '80s went from boom to bust when the Federal Reserve jacked up interest rates to keep prices from getting out of hand. But these days, inflation is barely on the radar screen, even though the unemployment rate has fallen to 4.9%, a level not seen since Richard Nixon was President. That astonishes Princeton economist Alan Blinder, a former Fed vice chairman. If he had bet on such results four years ago, Blinder notes...
Eric Pooley's report on the good state of the U.S. economy was interesting and well researched. The last time the economy behaved this way was during the postwar boom, in which Americans enjoyed the fruits of economic prosperity but blindly followed the institutions they felt brought this plenty to them. Now with the added sensibility gained by resurgence in the 1960s and economic humiliation in the 1970s and '80s, Americans have learned that we are all responsible for ourselves and our prosperity, and this has paid off. That a sense of self-worth is possible for every American...