Word: cash
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Dates: during 1980-1989
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...same time, America's industrial rivals are flush with cash, either ! their own savings or the billions of dollars that import-hungry U.S. consumers have been spending on Japanese video gear, South Korean appliances and West German autos. Those wealthy nations are eager to use this money to tap the $1.3 trillion U.S. marketplace, where immense diversity and opportunity act as both a model and a magnet for the rest of the world. In addition, foreigners are eager to gain access to the advanced fruits of American research and technology, as well as to enjoy the benefits of U.S. rates...
...buying, savoring its role as the globe's foremost exporter of capital. U.S. investment power was so great that in 1968 French Economics Journalist Jean-Jacques Servan-Schreiber predicted that American multinational companies like IBM and ITT threatened to turn Western Europe into an economic province. Concern about foreign cash flowing into the U.S. arose briefly in the 1970s, when a weak U.S. dollar and the emerging clout of OPEC prompted fear of an Arab buying spree. By and large, however, the cautious oil sheiks steered their petrodollars into bank accounts and securities portfolios rather than toward the bricks...
...where consumers save 17% of their earnings (vs. 4% in the U.S.), has the mightiest bankroll of all to engage in buying America. Bereft of enough investment opportunities at home to absorb their astonishing pile of savings, the Japanese are hungrily looking abroad for places to park the excess cash. Japan's direct investments in U.S. real estate and corporations reached $23.4 billion at the end of 1986, a jump of about 18% from the previous year. Predicts Amir Mahini, director of international business research for the McKinsey consulting firm: "In the next two or three years, Japanese investments here...
...Neill expresses grudging admiration for old Joe Kennedy, whom he describes handing out cash-filled briefcases to politicians who would do his bidding and keeping a careful watch on the progress of his sons. "The old man even had a maid in Jack's Washington house who reported to him," O'Neill says. President Kennedy is portrayed as the kindliest member of that clan, willing to meet with a friend of O'Neill's who wanted to bid on a large construction job overseas even though the man had not been an early Kennedy supporter. But Robert Kennedy is depicted...
Flush with cash and encouraged by the falling dollar, investors from overseas are snapping up skyscrapers and shopping malls, corporations and forest land, refineries and casinos. Already, Manhattan' s landmark Tiffany building is Japanese, Brooks Brothers is Canadian, and Sohio is in British hands. Is foreign ownership a danger? See ECONOMY & BUSINESS...