Word: dollarization
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Dates: during 1980-1989
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Through her efforts, and through the media attention Hyland has been able to gather, a million-dollar Bicentennial Lighthouse Fund has been put into motion. It is the first "bricks-and-mortar" provision for historic sites to be enacted since President Reagan came into office, and it will all be directed to lighthouses...
...billion more in goods than it exported in the first seven months of the year. At the current rate, the 1988 trade deficit will total some $130 billion, 23.5% less than last year's record $170 billion. That progress has resulted primarily from the 40% drop of the dollar against major currencies since early 1985, which has made imports more expensive and U.S. exports a bargain overseas...
Considering the size of the dollar's decline, the improvement in trade figures has been surprisingly small. The sad truth is that American industry simply is not in good enough shape to take advantage of the weak dollar. Many companies have trouble matching the quality of products from abroad. Other firms are running into production bottlenecks because they have skimped on investment. Some industries have been virtually wiped out by foreign competition: the share of the U.S. consumer electronics market held by American companies has plunged from almost 100% in 1970 to less than 5% today. When the Japanese started...
...were very lucky last October. Lucky not only because decisive steps by various governments stabilized the situation, but also because the bond market and the dollar did not crash along with stocks. One does not have to be a prophet of doom and gloom to sketch a possible downside scenario despite current strong economic statistics. With the trade deficit still high, inflation on the rise, no resolution to Third World debt problems and no decisive action on the federal budget deficit, we could see another steep decline of the dollar, a spurt in interest rates, a break in bond prices...
...World Records as the largest in the world; and one of its 63 discos is among the world's three biggest. Here, in fact, is a travel agent's dream: first-class services at Third World prices, exoticism crossed with elegance. With the Thai baht tied to the declining dollar, Thailand has come to mean the "Land of the Free" in more ways than one. Yet at the same time, the sinuous grace of the land is matched by its bilingual efficiency (a visitor at Bangkok's spanking new airport can go from touchdown to taxi in roughly 15 minutes...