Word: yen
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Dates: during 1980-1989
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...while baseball fans all across the country scream for "Yen-Yen" Moreno, fans right here in Cambridge have their own bevy of fun nicknames cheer--those of the Harvard softball team...
...sure, cultural barriers are not the only explanation for the imbalance in U.S.-Japanese trade. An important reason is the overvaluation of the U.S. dollar against other major currencies, including the Japanese yen; made-in- America is a luxury buy in Japan these days. The demand for dollars in turn is fueled largely by attractive U.S. interest rates, which are kept high by the huge federal borrowings needed to finance the budget deficit. Indeed, a major part of those borrowed funds is supplied by Japanese investors. Says Edward Yardeni, chief economist of the Wall Street investment banking firm of Prudential...
EXPERTS AGREE that the plethora of criticism is indicative of a conservative trend in American culture, an attempt to recover from what Associate Dean of Undergraduate Education Steven Ozment called "the hangover from the '60s," when traditional requirements were generally abandoned under student and faculty pressure. Along with a yen for argyle sweaters and fervent anti-communism. observers have demonstrated a desire for a return to strict standards in higher education. But not everyone thinks that the situation should be presented in such crisis terms...
...interest rates would be helpful. As for us, we need a determined political and economic European will. Quite frankly, if we don't want to be overdependent on the dollar, our European economies have to be strong, and we need an alternative to the dollar, which means the yen and the development of the European Currency Unit...
Finally, the Japanese, who often sit on the sidelines during international economic turmoil, could help settle currency markets by making it easier for foreigners to invest in securities denominated in yen. The country should speed up its efforts to bring down import barriers and thus reduce its gigantic trade surplus, which is expected to reach $55 billion this year...