Word: japanized
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...deep, set up 2-3 km from shore. The ranches are most often controlled not by small European operators but by large multinational corporations. In the cages, tuna fatten up on smaller fish, often for months at a time, before they are slaughtered and shipped off to Japan - the market for nearly 80% of the Mediterranean bluefin catch. The new large-scale ranches have wreaked havoc with the traditional fishermen's earnings. "The European market has totally changed in just two or three years," says Sevilla, director of Almadrade Capo Plata, one of Spain's few remaining traditional tuna-trapping...
...issue also included instructions in "Sexercise" by Bonnie Prudden, whose was then fitness guru on the Today show, and "My Search for a French Tickler in Japan" by young Mimi Sheraton, later the Times food critic and a food writer for Time. (I didn't read to the end to see if she found one.) "The Brothel in Art" featured works by Hogarth, Utamaro, Toulouse-Lautrec, Picasso. The book excerpt was from the 18th century novel Memoirs of a Woman of Pleasure, or Fanny Hill, which the Supreme Court would absolve from the charge of pornography on the same...
Carlos Ghosn is the CEO of Nissan Motor Co. of Japan and Renault S.A of France, which have benefited from a six-year cross-ownership alliance. This week, Ghosn was in the U.S. for talks with struggling General Motors, to test GM's appetite for forming a three-way alliance. Ghosn is perhaps the automotive industry's most accomplished executive, having pulled both Nissan and Renault out of nose dives. On his way to Detroit, he stopped in New York City to talk with TIME's business editor Bill Saporito. Here are his views on the potential GM hookup...
...interest rates would have a significant impact on global money flows. For one thing, it could spell the end of the Japan "carry trade," the practice of large investors borrowing yen cheaply to invest in anything with higher yields?from U.S. treasuries to stocks to emu farms. The carry trade has been blamed for speculative excesses in global stock and commodity markets, not to mention exotic investments like Icelandic and New Zealand currencies. In June, financier George Soros blamed the recent dip in global markets on the BOJ's money-supply tightening since March, noting: "When the Japanese central bank...
...Carry-trade alarmists tend to focus on the fact that Japan's "free money" spigot is closing, but rarely mention that rates are likely, for now, to rise by a mere 0.25%. That's not free, but it's still pretty close to it. For the foreseeable future, Japan will remain the world's first stop for low-cost capital. "Even if Japan's rates were to rise to 1%, its differential with other asset classes around the world would still be pretty high," says Macquarie's Jerram. Besides, the BOJ has been signaling its intention to raise rates...