Word: koreanness
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Dates: during 1990-1999
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...showed the rest of the world how to grow. Now comes the Asian Meltdown, as turmoil across the region shakes markets from Hong Kong to Wall Street. Last week it was Japan and South Korea that gave the world a jolt. No sooner had rumors of a possible South Korean collapse swept out of Seoul than the Japanese yen and the Tokyo stock market plunged to their lowest levels in two years. Across the Pacific, the ill winds from Asia blew the Dow Jones industrial average into a 157-point drop on Wednesday. "The real problem in East Asia...
...growth slowed and Seoul opened its economy to foreign competition, the fat profit margins of Korean companies suddenly became anorexic. Manufacturers like carmaker Kia Motors and steelcaster Hanbo have collapsed. Yet the chaebol kept begging for money, and their bankers kept obliging. Result: loans to Korean companies have reached an amount equal to 165% of Korea's GDP, and rumors abound that the country may seek an International Monetary Fund rescue. Seoul, however, denies...
Across the street from the mall is a small memorial to those who fought in the Korean and Vietnam Wars...
...Korean in Currency Crisis Asian markets were driven down today by Korea?s currency crisis. Seoul is scrambling to avert disaster, but analysts say it's not enough...
...Japanese leaders to boost the country's stagnant economy. Rubin is especially concerned about the impact of a financial meltdown in South Korea, one of Japan's fiercest regional competitors. Japan may be tempted to let the yen fall in value if the same thing happens to the South Korean currency. That could cause the U.S. trade deficit to grow $60 billion to $110 billion by early 1999, experts...