Word: sluggish
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...oasis in the world economic wasteland is the far-eastern rim of Asia. By selling high-quality products at low prices, Japan, South Korea, Singapore, Taiwan and Hong Kong have garnered prodigious growth and captured hefty shares of the world markets for autos, steel, shipbuilding, electronics and clothing. Nonetheless, sluggish growth in the West has started to cut into the demand for Asian exports. Moreover, tightening trade restrictions pose a threat to Asian economies. Japan, for example, had to curb its car exports to the U.S. and several European countries, after having been threatened with quotas...
Over the past decade, heavy tax and wage burdens, along with sluggish growth, have cut deeply into business profits. Confronted by lagging profits and steep interest rates, Western companies have been forced to slash their spending for capital investment. In 1970, the U.S. and Western Europe devoted about 4% of their national income to buying new equipment and building factories that would add to industrial capacity. By 1982, that ratio had fallen to less than...
When the senior editors of Newsweek assembled for a meeting last Wednesday morning, foreboding filled the room. For several weeks rumors had circulated that Editor Lester Bernstein would be replaced by someone outside the Newsweek fold. Bernstein strode into the room and began complaining good-naturedly about the sluggish air conditioner. Then he quipped: "Oh, my God, do I sound like Nixon before the speech, talking to the technicians?" When the nervous laughter subsided, Bernstein confirmed what much of the staff had suspected. He had been dismissed as editor and, effective Sept. 7, would be replaced by William D. Broyles...
Then in May, United Airlines dealt Boeing another blow by delaying delivery of 20 767 aircraft worth $900 million. United Chairman Richard J. Ferris cited the sluggish economy and fare wars as undermining United's ability to buy, plus congressional threats to kill or modify so-called safe harbor leasing provisions, which allow companies that do not need tax credits to sell them to companies that do. United would have thereby gained many millions of dollars, enabling it to buy Boeing's airplanes...
...replaced. But this apology for China's present problems, he notes quite correctly, ignores the "reality that 65 percent of China's one billion people...have been born since liberation and don't remember the bad old days...all they can remember is tumultuous political campaigns and a sluggish economy." Such an explanation is "condescending and insulting," he notes. "It suggests that China could not do as well economically as its neighbors Taiwan and South Korea, or achieve both the political democracy and economic growth of Japan...