Word: chunnel
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Dates: during 1980-1989
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...banks have seen their assets balloon, partly because of the rapid appreciation of the yen against the dollar, they have become more ambitious, aggressive and resourceful. The Japanese have bought up banks in the U.S. and Australia, financed iron-ore mining in Brazil and provided funding for the underwater Chunnel, which will link England and France. Taking their cue from Japanese manufacturers, banks like Dai-Ichi Kangyo have penetrated foreign markets partly by charging less for loans than their competitors...