Word: dollarization
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Dates: during 1980-1989
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Georges de Menil '62, professor of economics atthe Institute for Advanced Study and SocialScience in Paris, blamed today's troubles on fiveyears with an overvalued dollar. He said the U.S.needs a sensible budgetary policy with free trade...
...multi-million dollar purchase, completedlast December, made HRE landlord to more than sixarea businesses, including the Harvard ProvisionCompany, Brodie's Auto Rental, Skewers Restaurantand University Typewriter...
...high hopes that preceded last year's Tokyo summit meeting. At that session, which President Reagan cheerfully reviewed as the "most successful of the six I have attended," Treasury Secretary James Baker helped to win endorsement of an ambitious plan to control the volatile relationship between the U.S. dollar and other currencies through tighter coordination of economic policies (see box). The agreement was easy to reach, but the goal proved difficult to accomplish: despite a spate of follow-up meetings among economic leaders, market forces sent the dollar on a roller-coaster plunge in relation to the Japanese...
...calls for fundamental, and thus more difficult, changes in disparate national economic policies. Even so, financial markets turned optimistic last week as the summit meeting neared. On Wall Street, the Dow Jones average of 30 industrial stocks rose 48.37 points over the previous week, closing at | 2291.57. The U.S. dollar staged its strongest rally of the year, rising about 2% against the yen and the deutsche mark in two days. Experts wondered, however, whether the financial markets could continue to pay such handsome returns in the face of dismal economic growth. Warned a French senior economic official: "This is simply...
...last year was $170 billion, in contrast to $149 billion in 1985 and $9.5 billion a decade ago. Japan and West Germany, on the other hand, piled up surpluses of $101 billion and $63 billion respectively last year. But there are glimmers of hope. The decline of the U.S. dollar by roughly 20% against other major currencies during the past 18 months has started to ease the American deficit somewhat. One especially heartening sign: the U.S. trade deficit for the first three months of 1987 was $38.3 billion, down slightly from the previous quarter...