Word: rimmer
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...German consumers would then be able to buy more goods from American exporters. But because they are wary of rekindling inflation, Japan and Germany have not brought down their interest rates as swiftly as the U.S. would like. "We have been drumming this song for a long time," said Rimmer de Vries, chief international economist for Morgan Guaranty Trust, "but there's been no response." Late last week, though, the Japanese government did announce a $23 billion public-spending package that includes a boost in housing loans...
...pattern this year, thanks to falling interest rates and the decline in oil prices. Conservation measures now enable the industrial economies to grow without increasing energy use at the same rate. Between 1973 and 1985, the U.S. economy expanded by almost one-third while energy consumption fell slightly. Says Rimmer de Vries, chief international economist for Morgan Guaranty Trust: "We used to be hooked on oil. But now the tight relationship between oil and growth has been considerably loosened...
...American exporters. Japanese consumers are already taking advantage of bargain prices on American wines, foods and sporting goods. But most U.S. economists agree that the dollar must decline further if U.S. companies are to become fully competitive with their Japanese rivals. "You ain't seen nothing yet," says Rimmer de Vries, the chief international economist for New York's Morgan Guaranty Trust. "Another 20% yen appreciation is absolutely necessary before the U.S. can start to work off its trade deficit with Japan." Some economists think that the dollar must go down to the 100-yen threshold over the next four...
...notes a top adviser to West German Chancellor Helmut Kohl. "German products still appeal at these prices." M.I.T. Economist Paul Krugman believes it will take at least a year for the drop in the dollar to % have "a significant impact" on the trade balance. That view is shared by Rimmer de Vries, chief international economist for Morgan Guaranty Trust, who expects only a modest decline in the trade gap this year...
...risk of inflation has been sharply reduced, however, by the huge drop in petroleum prices. Last week the price for next-month delivery of West Texas Intermediate, a benchmark crude, closed at $16.01 per bbl., compared with $31.72 in November. Rimmer de Vries, chief international economist for Morgan Guaranty Trust, expects prices to average about $18 this year and next...