Word: japanized
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China is the most obvious example. But there's also Saudi Arabia and its Persian Gulf neighbors, overflowing again with oil wealth. Even Japan, while not exactly booming, has seen its currency remain curiously weak during the dollar's long fall...
...very prosperity that Bretton Woods enabled was its undoing. As Germany and France returned to the ranks of major economic powers, and Japan began its climb to get there, the exchange rates set up after the war and adjusted only slightly afterward made no sense anymore. Attempts to update the system collapsed in 1971, and the world's major economies moved to freely floating currencies. The transition wasn't pretty: stock markets plummeted, banks failed, oil exporters jacked up prices and inflation raged--especially...
...billions of dollars that they don't know what to do with. Up to now they've been content to recycle most of them by buying Treasury bills and other U.S. securities. The U.S. has enjoyed the low interest rates that have resulted, while China, the gulf states and Japan haven't wanted to face the consequence that by selling dollars, they would decrease the value of their remaining dollar holdings...
...Historically, Germany, Japan, and France would be my toughest competition. It’s more unfamiliar than the U.S. setting, because, one, I’ve never been on the world stage before and there in each country there’s a different style. Each person will be the best DJ in their country, so they could be bringing crazy stuff you’ve never seen before, so you’ve got to be ready for everything. In the U.S., you can plan more strategically. If I face this guy that’s kind of weaker...
...food be made “fresh to order”? But here’s the hitch: Wagamama is a fast food joint. Was the last Big Mac you ate “made fresh to order”? Modeled after the noodle bars that are ubiquitous in Japan, this British chain made its U.S. debut in Boston’s Faneuil Hall, with its second branch opening up this summer in Harvard Square. Wagamama has all the markings of the average fast food haven: a line out the door twenty diners deep, the decibel level of a subway...