Word: mid-1990s
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...prices largely in check. Indeed, if anything, central banks in their determination to kill inflation before it happens may already have tightened too much. Over the last decade, the world has experienced a series of brutal deflationary shocks. They started with the collapse of the Mexican peso in the mid-1990s. In 1997, much of eastern Asia's flourishing economy was leveled. Next were Russia, Turkey and Argentina; Brazil teetered on the brink. Meanwhile, Silicon Valley, the pride of the U.S. economy, was crashing, while entire sectors of the so-called new economy disintegrated. And Japan, the world's second...
...revival of the opposition Tories under their dynamic young leader, David Cameron. Another is a spate of recent government scandals, from undignified sexual shenanigans to more serious issues of misjudgment, recalling the venality and incompetence that dogged the dying days of the ancien Tory régime in the mid-1990s. But, like his comrade George W. Bush, Blair faces his biggest problem because of Iraq. Voters think he stretched the case for war. And the failure to find weapons of mass destruction, as well as the mounting strain on British forces in Iraq, has drained his support. "I didn...
...mid-1990s, the Federal Government conducted a mass experiment that looked, in some ways, like the exodus following Katrina. Some 4,600 families in public housing projects were randomly assigned one of three different destinies. Families in the first group got a golden opportunity: a housing voucher good for relocation to any neighborhood with very low poverty. Those in the second group got a voucher for use anywhere. And a third set, the control group, stayed where...
...with local bureaucrats. In sectors ranging from pharmacies to DIY stores, recognizable brand names are starting to emerge. Euroset, a seller of mobile phones, is the best example. Its fortunes have soared as Russians across the country have discovered the joys of wireless. The company started out in the mid-1990s with two Moscow stores and began a national push in 2004. In the two years since, the number of its cheerful yellow outlets and the size of its revenues have both increased tenfold. Last year it sold 9 million handsets. It's now a $2 billion company...
...considered buying), countless sushi bars and a huge German cash-and-carry hypermarket near the airport. "It used to be hard to get credit, but now banks are lining up to lend to us," says Leonid Bazerov, who built a shopping mall in an abandoned theater in the mid-1990s and has expanded it to almost 10 times the original size...