Word: yen
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Dates: during 1980-1989
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Almost all the increase in the past five years has been due to the success of the Japanese. They have become even more competitive because the decline of the yen against the dollar since mid-1979 has held down the prices of Japanese goods in America. Yet Japanese automakers argue that the major reason for their success is that the U.S. car companies failed to anticipate and exploit the swing to gas-saving small models. That failure certainly contributed to the U.S. success of Volkswagen, which started producing Rabbits at a Pennsylvania plant in 1978, and has experienced such high...
...Franz Pick, who for years have urged investment in gold as a safe hedge in an in flation-weary world economy. As gold soared, the dollar continued its plunge against foreign currencies, hitting an all-time low of 1.70 deutsche marks, and sinking against the Swiss franc, Japanese yen and British pound, though it recovered somewhat at week...
After 1977, when foreign cars grabbed a then record 16.7% of the market, their sales began to slip, partly because the yen rose enough against the dollar to drive the prices of Japanese imports up by 25%. But suddenly last spring, gasoline shortages reappeared, and demand for small cars took off. Because Detroit does not as yet produce enough economy models, thousands of would-be American car buyers have been forced to turn to imports...
...imports are relatively cheap now partly because the yen fell back sharply against the dollar last year. Generally, their prices have risen by just 1% to 5% since the start of the 1979 model year, while those of U.S. cars have moved up sharply: the cost of a Chevette has climbed by 13.1%, the Ford Pinto hatchback by 15.8% and the Omni/Horizon...