Word: dollarized
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Dates: during 2000-2009
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...after the Shah's ouster, the average Iranian is no better off materially. And it would appear that the country has swapped one set of constraints on personal freedom for another. There is still abundant evidence of overcrowding and wretchedness. Two pounds of meat that cost just over a dollar in 1978 now costs $12 on the open market. Medical services have deteriorated, foreign travel is difficult...
Last winter the U.S. dollar was rising powerfully, setting records against the French franc, the West German mark and the Italian lira. During the long, hot summer, though, the dollar has sweltered and gone limp. Main reason: fears that the U.S. economy may be stagnating. Since late February, the dollar's value has dropped 25% against the British pound, 10% against the Japanese yen and 14% against the lira. Last week the greenback lost ground in four of five trading sessions, closing Friday at its lowest level in more than a year against the German mark and the French franc...
...addition to the sluggish economy, an important factor in the dollar's weakness may be fears that President Reagan, because of his recent brush with cancer, will not be able to serve out his full term. Says Alfred Roth, the chief currency trader at New York City's Chemical Bank: "So much of this market is not just economics. It's pure psychology, and Reagan's health has done a lot to hurt the dollar." Agrees Pierre Rinfret, a New York-based economic consultant: "Confidence in President Reagan's leadership made the dollar a strong, upbeat currency for roughly three...
...time maintaining quality. "They're not out of the woods yet," says J.D. Power's Parker. Dwindling profit margins are another problem. The average Hyundai car retails for 10% to 15% less than a comparable Toyota or Honda in the U.S., but with rising labor costs and a weaker dollar, Hyundai must persuade customers to pay more so that profits keep growing. Last year Hyundai's earnings edged up a mere 2% while sales grew 10%. Lehman Bros. auto analyst Zayong Koo says, "They need to show a track record of good-quality cars in order for them to take...
...Bionics are no longer the preserve of the Six Million Dollar Man: soon the elderly or disabled may be able to walk, climb stairs and do housework with the help of a robotic suit, or exoskeleton. The "hybrid assistive limb," or HAL, is the brainchild of Professor Yoshiyuki Sankai of the University of Tsukuba, Japan. Inspired by Isaac Asimov's sci-fi novel I, Robot and Japanese manga comics, Sankai has produced a suit that weighs up to 22 kg and supports its own weight-and the wearer's-with a metal frame. When the wearer moves a major muscle...