Word: dollarization
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Dates: during 1980-1989
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...Japan ran a trade surplus of about $44 billion, up from $20 billion in 1981. In trade with the U.S. alone last year, Japan had a $30 billion surplus. One reason for that startling imbalance is the lofty value of the U.S. dollar. Partly because of high American interest rates, the dollar has risen 30% against the yen since 1978. That has made Japanese imports cheaper for U.S. shoppers, and American exports more expensive in Japan. Economists think the dollar may decline a bit over the next year or two, but not nearly enough to erase Japan's surplus...
Colleges across the country have in tensified efforts to comply with the so called "Copyright: Law" since the Association of American Publishers filed a multi-million dollar lawsuit against New York University two years...
...Goose Goslin and Hank Greenberg have much to tell and tell it well. They talk of an America when baseball, like Jazz music, was not a respectable profession. It was difficult for Jimmy Austin to rush off to Dayton Ohio to play ball in a factory league for forty dollar's a month. It was equally difficult for Harry Hoper to overlook a good job as an engineer to try his luck as a center fielder. It was also trying for Marquard to listen to his father warning him never to return home as he embarked upon his career...
...breed can be smug and shallow. The younger yuppies tend to look at education and the future in terms of the dollar: the "trade school" approach to learning. The idea of winning buzzes always in their minds. It is at them that Michelob Light aims its ad with the slogan: "Who said you can't have it all?" The yuppies are Ueberroth's natural constituency...
Like most economists, Feldstein contended that the budget deficit helped keep U.S. interest rates high in 1984, which attracted about $100 billion in foreign capital to American investments. While the money from abroad helped finance the federal deficit, it also boosted the value of the dollar to new peaks. The dollar's strength was a boon to American tourists, who traveled overseas in record numbers, but it was a burden to U.S. companies that tried to compete with cheap imports or sell their products abroad. Primarily because of the robust dollar, the U.S. racked up a record trade deficit...