Word: switzerland
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Dates: during 1980-1989
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...international troubles of the Japanese arise from their doing almost too well at their economic ventures. After 1945, Japan's industrial plant was in ashes. MacArthur said that he hoped eventually to rebuild the country to the point where it would become "the Switzerland of Asia." Today, Japan is the second most powerful economy in the free world. Its trillion-dollar-a-year industrial machine accounts for 10% of the world's output. By 1990, the Japanese may achieve a per capita gross national product that surpasses that of the U.S. As a 19th century French tourist said of another...
Parts that are easily identifiable, such as missile tubes and ammunition, are generally shipped under inaccurate labels to countries where inspection is nonexistent or lax. Among the favored destinations: Switzerland, Austria, Hong Kong, Singapore and The Netherlands. In Amsterdam, says an intelligence officer, "the stuff can arrive one night and be gone the next morning, and the boxes are never opened...
Touring in Europe these days also leaves more to individual choice. One boon for free spirits is the hotel voucher plan, available throughout Scandinavia and in Switzerland, by which travelers can choose in advance from hundreds of participating inns and hotels; a tourist is thus free to arrive with only 24 hours' prior notification. One way of escaping the formalities of hotel living is to stay at a farm or a country manor. Private agencies and government tourist commissions make such accommodations available at low prices. Many European countries offer prix fixe tourist meals that are obtainable at hundreds...
...SWITZERLAND. Despite the country's expensive image, more and more Americans are heading for the Matterhorn. In 1982 there was a more than 15% leap in the number of nights spent by U.S. guests in Swiss hotels; a 10% jump is expected this year. Thanks to an inflation rate that has averaged 4.5% over the past five years, some hotels have not raised prices since 1980. In addition, notes John Geissler of the Swiss National Tourist Office, "you can eat in ordinary restaurants with reasonable prices and have a very good meal. You do not have...
...continues American Express's push into financial services. In addition to its own credit cards and traveler's-check business, the company already owns Shearson, a leading Wall Street securities firm; Fireman's Fund, a large insurance company; and the non-U.S. banking subsidiaries of Switzerland's Trade Development Bank. The deal puts American Express back into the mutual-fund market, which it left in 1975. IDS is one of the top ten American managers of mutual stock-and money-market funds. It runs 14 pools with total assets of $9.6 billion, manages pension portfolios...