Word: dollarization
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Dates: during 1980-1989
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...control. Says a Customs agent responsible for halting illegal high-technology exports at Los Angeles International Airport: "There is a large and active movement to ship illegal arms and weapons-systems parts and spares to Iran." A Pentagon intelligence agent in Washington notes that "whatever the dollar value, it is far more than any of us think...
...could proceed. After that breakdown, the colony's economic indicators plummeted to historic lows. The news that Britain and China would resume their talks has produced a recovery. By last week shares on the Hong Kong Stock Exchange reached a nine-month high, and the slumping Hong Kong dollar had improved. Even so, many of the ethnic Chinese businessmen who dominate the colony's economy were still debating whether to invest in new undertakings or apply for mortgages...
...administrative region" under the terms of an amendment to the Chinese constitution that was formally approved last year. So far, however, that special region has not been precisely defined. Peking has merely hinted to visiting delegations that Chinese and Hong Kong flags would fly together, that the Hong Kong dollar would remain an international currency, and that the corps of civil servants who administer the city would be retained. In the course of the informal talks, China has even indicated that Hong Kong's Royal Jockey Club could continue its horse races, although "Royal" would of course have...
They are returning this summer not with bombs or bands, as they have in the past, but quietly and assuredly, like friends of the family. American tourists, who were driven from Europe by the dollar devaluations and the oil embargo of the early 1970s, are finding their way back in force. From Sicily to Skye and Positano to the Parthenon, the accents of Dixie and down East can be heard again in the pubs and bistros and trattorie, in cathedrals, castles, stately homes, museums, opera houses and a million stores...
...Yanks are coming with cameras and phrase books and something new: pocket calculators, which have become essential for translating the volatile currencies of Europe into dollars. The dollar, as everyone knows, has never been lustier abroad,* and Americans are in the mood to spend. To encourage them, European Travel Commission ads across the U.S. proclaim: EUROPE! THE GRANDEST HOLIDAY OF ALL. NOW MORE AFFORDABLE THAN EVER. The Paris daily Le Figaro scolds the mother country for not wooing the American dollar more actively this summer and urges with a wiggle: "The objective in 1984 is to seduce the Americans...