Word: plaza
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...combination of U.S. stock-market success and currency-exchange strains showed how complex the international economic climate had become in the past 16 months. In September 1985 the so-called Plaza Accord on exchange rates was hammered out between Treasury Secretary James Baker, architect of the agreement, and the finance ministers of Japan, West Germany, France and Britain. It provided for a gradual and orderly decline in the value of the dollar, which had reached a peak in February 1985. Before last week, the dollar had dropped 28.7% against other major currencies...
...experience since the Plaza Accord, however, indicates that the trade problem is much thornier than that. One of the most immediate effects of a dollar decline should be a decrease in foreign travel by Americans -- but there the U.S. suffered a $5.2 billion deficit last year. Apparently, the rising cost of staying in Paris or Rome has been offset by cheaper air fares, among other things. Moreover, even while the international purchasing power of the dollar has declined since the Plaza Accord, the price of imported goods in the U.S. has often failed to rise by an equivalent amount...
Philippine Plaza--The open spaces of the Plaza are dominated by monolithic buildings built by Imelda Marcos as museums and cultural centers; now, they sit largely unused. It is as though the Marcos' were puppeteers controlling the whole economy, which, without their guiding hand, has collapsed...
...Dupont Plaza was evacuated during the fire and has stood vacant since. A 10-foothigh fence was erected around the site last week to protect evidence...
Rivera Cruz said in a statement that Escudero Aponte was charged with "setting fire to the Dupont Plaza Hotel on New Year's Eve, in agreement with others." But he said the investigation was continuing and therefor he could provide no further information...