Word: dollarization
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Dates: during 1980-1989
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...hold a dollar...
...trade turnaround was a long time coming, but there are finally some signs of change. Between 1982 and 1986, the value of Japanese exports jumped from $138 billion to $211 billion, partly because of the yen's 50% rise against the dollar. In 1986 alone, Japan's trade surplus rose 79% from the previous year. But last spring it began to come down. By July the surplus was nearly 15% lower than the same month the year before. Meanwhile imports, spurred by growing domestic demand for ever cheaper foreign goods, were up 30% in August, compared with that month...
Such successes might have been unthinkable only a few years ago, when the world tended to view many American products as singularly unattractive in quality and price. In retrospect it was no wonder, since U.S. industries were saddled with an overvalued dollar, vast payrolls, clanky factories and an overstuffed management. Yet in a relatively short span, the attitude and substance of much of American industry have changed. Competitiveness has become a top economic priority, and an overworked buzzword, from Main Street to Capitol Hill. American companies have slimmed down and smartened up, while at the same time the 35% fall...
...renewed confidence in Europe, however, a few strains of Europessimism linger. Europeans realize that in the mid-1980s their exports to the U.S. received a mighty boost from the rise in the value of the dollar, which made imports less expensive for American consumers and businesses. Now that the dollar has taken a dive, Europe's export industries are feeling pressure once again. Another concern is sluggish investment. Despite healthy earnings, many of Europe's companies are not devoting enough money to modernizing and expanding factories. Instead, firms are stashing cash in high- yielding money-market securities or buying...
...Committee members realized that they had miscalculated. They had forgotten about the petty fines that they levy on students for every little transgression. They had forgotten about the added income from raising the price of library copy machines from five cents to 10. They forgot about the irksome two-dollar "processing" charge that every student must pay if they want a copy of their transcript. As the final tally of extra money began to take shape, a solemn hush fell over the Trustees. What could they spend it on? Suggestions began...