Word: marketization
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Dates: during 1990-1999
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These so-called functional beverages, or "nutraceutical" drinks, represent a tiny slice of the $20 billion U.S. beverage market--but the one that's growing fastest. Sales are expected to reach $100 million this year, up from just $20 million in 1997. Most of the products are teas and juices mixed with a variety of herbal, mineral and vitamin supplements. SoBe Wisdom, for instance, contains ginkgo biloba, St. John's wort and gotu kola, which, the label says, promote "focused thought" and "sharpen the mind." Hansen's "d stress" (kava kava, St. John's wort and tyrosine) is supposed...
...frantic expansion of the market for herbs and other supplements, though, comes at some risk to consumers. These products are not regulated in the U.S. nearly as strictly as over-the-counter drugs or even foods--in sharp contrast to countries like Germany, where the government holds companies to strict standards for ingredients and manufacturing. Experts say that while the top U.S. and European manufacturers pay close attention to the safety, effectiveness and consistency of their products, parts of the industry resemble a Wild West boomtown, where some 800 lightly regulated U.S. companies compete ferociously with fly-by-night hucksters...
...Even that move could not stem the unrest, and after six months of political tension and economic hardship, chaos has returned to the world's fifth most populous country. Indonesia's woes have been a driving force behind Asia's financial crisis, and the new instability could trigger global market shudders...
This blossoming market for all things herbal has attracted growing interest from everyone from Ann Landers (who recommends herbs as an alternative to Viagra) and Larry King (whose radio ads credit ginseng for his youthful, uh, glow) to professors of medicine and Wall Street investors. Just last week the Journal of the American Medical Association (J.A.M.A.) released an issue devoted entirely to studies of herbs and so-called alternative remedies (see accompanying story). Among the eye-opening findings: Americans today make more visits to nontraditional physicians, including naturopaths who claim expertise in herbs and other natural therapies, than to their...
...interrupts) So when you go to Star Market...