Word: dollarization
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Dates: during 1980-1989
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...Angeles' ARCO Plaza by Shuwa Co. of Tokyo in September for $620 million. Shuwa also recently purchased New York City's ABC building (price: $174 million). Japanese investments in U.S. real estate could reach $5 billion this year, more than three times the 1985 level. Main reason: the dollar has weakened by 38% since early 1985 against the yen, making even tall American office towers a relative bargain...
...forecast for further growth largely rests on the increasing conviction that the U.S. has started to make progress against its most draining economic problem: the huge trade gap. For the most part, that gap is the legacy of an American dollar that was too strong in the first half of the decade. That made foreign goods cheap in the U.S. and U.S. exports too expensive in other countries, and the resulting trade imbalance has created a heavy drag on growth. But in recent weeks economists have become persuaded that the nearly two-year decline in the U.S. dollar may have...
...between healthy steps to boost efficiency (example: increased worker training) and potentially harmful measures to shelter industries (example: quotas on foreign products). The most effective way for the U.S. to become more competitive abroad, Schultze pointed out, is to concentrate on making its goods less expensive by bringing the dollar into line...
Normally issued only to legal Cambridge residents, the three-dollar permits have been selling for $40 to $75 on the black market to commuting businessmen, Monago said. "Three parking tickets cost $45. An illegal permit pays for itself in three days," said Monago...
...Count the money in your wallet. Then arrange your bills so that you always have the best "dollar-bill-poker" available for easy...