Word: outflowing
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...during the first three years that the law is fully effective, not a major annual increase over the 450,000 expected to emigrate this year alone. Other estimates are that 2 million or more may leave quickly after the law takes full effect, but once they are gone, the outflow will dwindle. One reason is that the U.S. and European nations are unlikely to admit many more immigrants from the U.S.S.R. than they do now. Also, foreign tourism costs more money than most Soviet citizens can spare. But the knowledge that citizens can leave if they wish and the insights...
...weak yen has been a prime culprit in Japan's trouble, raising the threat of inflation and putting upward pressure on interest rates. The yen has sagged largely because of the quickening outflow of Japan's immense cash hoard to other countries, where Japanese investors have found investments more lucrative or stable than at home. Says Nomura's Koo: "We got into this mess because Japanese investors were always moving money abroad." Example: Ito- Yokado, a Japanese supermarket chain, agreed last week to pay $400 million for a 75% stake in Southland Corp., the Dallas-based operator...
...fact, each concession by Krenz seems to have created a fresh threat to his political survival. The opening of the borders to the West, for example, permitted a torrential outflow of East German marks, carried out by citizens who at last could use them, even at absurdly low rates, to buy something -- in the West. Fretted Prime Minister Modrow: "East Germany must not become a nation of speculators." The government's bewilderment underlined the problems encountered by a Communist leadership, albeit a reform-minded one, in coming face to face with the complexities of capitalism. Within a matter of days...
...yucky little Renoirs and third-string Ecole de Paris painters like Moise Kisling, whom nobody wanted a few years ago; one Japanese collector is the proud owner of a thousand paintings by Bernard Buffet. But the Japanese started going after bigger game about five years ago, and already the outflow is immense. Contemporary art has become, quite simply, currency. The market burns off all nuances of meaning, and has begun to function like computer-driven investment on Wall Street. Sotheby's and Christie's between them sold $204 million worth of contemporary art the week before last. Of this, American...
...indicates a radically transformed market structure. In art as in other markets at the end of Reagan's economic follies, America sinks and Japan rises. In this context it is fatuous to utter bromides about art's being the Common Property of Mankind. Americans now begin to view the outflow of their own art with bemused alarm -- just as Italians and Englishmen, at the turn of the century, watched the Titians, Sassettas and Turners, pried loose from palazzo and stately home by the teamwork of Bernard Berenson and Joseph Duveen, disappearing into American museums. "The Japanese are awash in money...