Word: yen
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...Times report of that anti-American chant must have particularly astonished the paper's immigrant readers. They, after all, have come to L.A. with everything staked on a belief that American myths are real. Richard Yen-Shih Koo arrived from Taiwan in 1965. "I saw the good life in the United States," he says without irony, "as heaven...
...more rampant than ever; currency values can jump or dip by 2% in a single day. Some currencies shoot way out of line and stay there. Japan had a merchandise trade surplus last year of $18 billion, yet partly because of Japan's low interest rates, the yen remains weak against most other currencies. Economists estimate that the yen is undervalued by about 20% in relation to the dollar...
...fast-growing Komatsu firm can undersell Caterpillar because its total pay averages only about $11 an hour. The low value of the yen also helps keep down the price of its exports. Although Komatsu has so far won less than 7% of the U.S. market, as against some 50% for Caterpillar, it has been gaining rapidly in the Middle East and Southeast Asia...
...entirely new model because there was no guarantee of an adequate return. Japanese manufacturers enjoy a cost advantage of some $1,500 per unit in the production of small cars, which comes from production efficiencies, labor-cost differentials, tax laws that favor exports, and the cheap yen. U.S. automakers have been unable to compete profitably (see Book Audits). Japan commands 48% of the small-car market...
...guests" on the street. Included in the committee's 24-page petition is a survey conducted under what must have been unusual circumstances. Polling 100 of their clients, the scarlet ladies discovered that after a day of trading pounds, francs and dollars, no fewer than 92 had a yen for picking up dates on the streets rather than in bars and cafes, where they might be recognized-and where the women now conduct business while waiting for the 8 p.m. stroll...