Word: yen
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Dates: during 1980-1989
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...relatively inexpensive in the U.S., and Americans seemed to have an insatiable appetite for Toyotas, Sonys and Nikons. But now that the dollar is diving, the prices of Japan's goods are suddenly on the rise in the U.S. As the dollar hit a record postwar low of 174.60 yen last week, Japanese manufacturers fretted that their exports would be devastated, and rival American businessmen broke into broad smiles...
...overseas competitors. But early last year the dollar bailed out, with a slight push from anxious international moneymen. At first the decline was a gentle drift, but it is now showing signs of becoming a free fall. Since December the dollar has dropped by 19% against the Japanese yen and 8% against the West German mark. It dipped last week below 180 yen for the first time since October 1978, when the American currency seemed so feeble that President Carter announced a dramatic rescue plan. Economists now wonder whether the current decline will end in a soft landing...
Nonetheless, some U.S. trading partners are afraid that the dollar has fallen too far, too fast. Japanese firms are considering a second round of price increases because of the rising yen, which has gained 25% against the dollar in the past six months. Says Bunroku Yoshino, president of Tokyo's Institute for International Economic Studies: "Fundamentally, Japan can stand a pretty sharp strengthening of the yen. But the suddenness of the rise is difficult to adjust to. If we have more time to adjust, then it might be all right...
...four other industrial powers--Japan, France, Great Britain and West Germany--launched a successful effort to push down the dollar. It has declined by about 12% since then, first at a gradual pace and now at a fast clip. Last week the dollar plunged to 181 yen, a seven-year low against that currency, and to 2.34 West German marks, a level not seen since...
After a night of frenzied dancing, Zhen Zhen came to grief when her boyfriend entered the room while she was taking a bath. Yen Li, who yearned to be an actress, lost her virtue when a wily actor insidiously told her that Ingrid Bergman and Sophia Loren devoted their lives--and their bodies--to art. The pivotal event of Li Na's life occurred when her date tricked her into watching a porn movie. "She was shocked by the movements on the screen, and she felt warm and suffocated. As she was about to unbutton her collar to breathe...