Word: effecting
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Dates: during 2000-2000
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...begun to search for new paths back up the mountain to prosperity, much of Latin America is only in the foothills. No region offers a more sobering picture of how volatility translates into vulnerability than Latin America. In 1999 it was nature that buffeted the region--El Nino, the effects of 1998's hurricanes Georges and Mitch, the floods of coastal Venezuela--but a collapse on Wall Street could have a no less devastating effect. Moises Naim, editor of the journal Foreign Policy, based in Washington, noted that 1999 set a series of dismal records for Latin America: the highest...
Unfortunately, another effect of the boom has been to raise consumer debt and the U.S. balance-of-payments deficit to alarming levels. These have added to the inflation concerns of Federal Reserve Chairman Alan Greenspan, who on Feb. 2 jacked up interest rates another quarter of a percentage point. Further tightening could spook an increasingly jittery stock market, and the pressure for a bigger boost remains strong. Much of America's current wealth could evaporate with stunning speed. Despite big average increases in disposable income, Tyson pointed out, "savings rates are still declining, and no one knows what...
Other board members were more optimistic. "Europe is at the beginning of a renaissance," predicted Kenneth Courtis, the Tokyo-based vice chairman of Goldman Sachs Asia. "The euro is creating a competitive marketplace almost as big as the U.S.--and in effect outside the control of any government." In addition, the weak euro--down from a value of $1.17 at its birth a year ago to less than $1 now--has been a boon to European exporters. On the other hand, Hormats was worried that the euro's slide has taken some of the pressure off structural reform...
...foresee its happening soon, but members didn't rule it out. Nor did they see a major slippage in stock markets as the end of the world economy. A slide of 35% in the value of the New York Stock Exchange would surely wipe out the U.S. "wealth effect" and decimate public confidence. But, Courtis argued, the fundamental transformations brought about by globalization and the Internet would provide a foundation for another boom. Besides, as Hormats put it, "investors have a greater sense of confidence that when the markets go down, governments know how to deal with...
...Texas for a decade by the time Bush ran. In 1993, Sadler led the fight to scrap the state's education code, and during Bush's first term, Sadler and others were writing the new code. Sadler says Bush jumped into the reform effort immediately and to great effect."His role in the rewrite was significant," says Sadler. "He met weekly with me at first, and by the end, almost daily--he used to joke that we were joined at the hip." Sadler's task was to push control of the schools to the local level while beefing...