Word: japanization
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Dates: during 1990-1999
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...what?s to be done? The Japanese government can?t keep pumping massive amounts of public cash into the private sector, and even if it could such infusions are largely beside the point. "Japan is so far into recession," says Baumohl, "that traditional measures may not work anymore...
...Couldn?t the central bank lower interest rates to stimulate borrowing, ? la Greenspan? Not really. Japan?s interest rates are already less that 1 percent (as opposed to around 5 percent in the U.S., which is itself unusually low). And far from being in lending trim, Japanese banks are so shaky that people are trading their minuscule-yield savings accounts for mattresses and coffee cans...
...that may be to persuade them that things are about to get much worse. That means printing money. Some economists, led by Paul Krugman of the Massachusetts Institute of Technology, think that inflation -? and, more important, the prospect of more inflation to come -? may provide the crucial incentive Japan needs. "By forcing prices up and eroding the value of the yen," says Baumohl, "you might convince people that whatever they?re going to buy, they?d better buy now, because in a month it?ll cost more." The same goes for saving -? why hoard your yen when they?re steadily...
...rode the increasing prominence of women's hockey all the way to Nagano, Japan and the 1998 Winter Olympic Games. The national team had a newly established full-time training program and seven-month tour to prepare for the games...
Like the tango, Lan insists that many of her current interests and projects were picked up quite by accident. She is teaching herself Japanese because she won a summer fellowship from the music department to study the culture of the tango in China, Japan and Taiwan. She brushes up on high school German to read the papers of Einstein, Bach, Mozart, and Brahms in their original German, and she is currently composing a piece for chorus and orchestra in Chinese because her mother happened to be "listening to a lot of Chinese music" when Lan went home to New York...