Word: interventionism
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Dates: during 1990-1999
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Occasional British-style tabloid feeding frenzies and endless controversy over its educational merit have left the folks in Teletubbyland--actually six acres of farmland outside Stratford-upon-Avon--more than a little press shy. But TIME was recently permitted a rare look at the filming of two sure-to-be...
Here in Tokyo, the threats and lectures are getting stale. Japan's leaders bristle at suggestions that they are still wallowing in a gigantic pool of bad bank loans and stagnant economic numbers. They point to a plethora of rescue plans and billions of dollars earmarked to jolt the economy...
Ironically, it was Rubin's remarks before Congress two weeks ago that seem to have triggered the latest spiral. Appearing before the Senate Finance Committee, he was asked why the U.S. was doing nothing to support the yen. "Intervention is a temporary tool," he replied. "The whole answer lies in...
The issue remained undecided last Tuesday at around 5:30 p.m. as an Oval Office meeting began. The Japanese were still balking. Clinton sat at his desk with chief of staff Erskine Bowles at his side. National Security Adviser Sandy Berger, Deputy Treasury Secretary Lawrence Summers and White House economic...
The figures underline the importance of yesterday's U.S. intervention to boost the yen -- further devaluations in Asia would swell the already bloated deficit. Some relief may eventually come from Europe, however: "If Europe's economies keep bouncing back, their increased demand for U.S. exports will offset some of the...