Word: yusen
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Dates: during 1950-1959
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...resort to short-term loans from commercial banks (with interest as high as 11%) and government loans. Furthermore, shipping rates, which were boosted sky-high in 1950-51 by the Korean war, have dropped down again, and shippers expect a further slide. Warned Shimpo Asao, president of Nippon Yusen Kaisha, one of Japan's biggest shipping companies: "The future is very dark. Until world trade begins expanding there is not much hope for further recovery . . . more Japanese ships will make their way into world ports, but you can't operate in the red forever...