Word: dollarization
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Dates: during 1980-1989
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Regan had long ignored allies' complaints about the U.S. budget deficit and concerns at home about an overvalued U.S. dollar that had led to a dismal American trade deficit. Baker reversed that stance with the September 1985 Plaza accord, a five-nation cooperative attempt to hasten the dollar's decline. Baker tried to use the dollar's continuing fall as a diplomatic tool. His aim: to chivy West Germany and Japan into expanding their domestic economies, while counting on the U.S. currency's drop in value to start reversing the ugly trade figures...
...wrote in Walden: "I used to see a large box by the railroad, six feet long by three wide, in which the laborers locked up their tools at night; and it suggested to me that every man who was hard pushed might get such a one for a dollar, and . . . get into it when it rained and at night, and hook down the lid, and so have freedom in his love, and in his soul be free...
...sifted for three years through 45,000 documents and grilled more than 120 witnesses. But only a four- page press release was needed last week to scuttle the Justice Department's inquiry into charges that General Dynamics had falsified information in the 1970s about delivery dates and multimillion-dollar cost overruns on Trident and Los Angeles-class nuclear submarines. Citing the "absence of any reasonable prospect of a successful prosecution," the Justice Department dropped its investigation into the actions of employees of the firm, including then Chairman David Lewis, 69. Said Deputy Assistant Attorney General Victoria Toensing: "The evidence...
...dozen screens. The objective of the system is to provide centralized management of traffic problems as they may build up at any of the country's 12,500 airports. Cost of the new computer operation so far: about $2 million. The FAA's ultimate goal, though, is a multibillion-dollar air-traffic control ) system so highly automated that it can monitor flights and direct pilots with little or no human intervention...
...added abroad when the products were returned to the U.S. For nearly two decades, these exchanges fostered steady but unspectacular growth in border cities such as Juarez, Tijuana and Mexicali. But the trend accelerated dramatically in 1982, when the Mexican peso lost 82% of its value against the U.S. dollar. Mexican wages fell to irresistibly low levels for U.S. companies facing tough competition from Asia...