By Alan Greenspan (auth.), Gerald P. O’Driscoll Jr., Stephen P. A. Brown (eds.)
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Extra resources for An Economic Perspective on the Southwest: Defining the Decade: Proceedings of the 1990 Conference on the Southwest Economy Sponsored by the Federal Reserve Bank of Dallas
The country's real estate market has reached levels of hyperinflation that threaten the banking system. And the recent plunge in the Tokyo stock market threatens to further cripple Japan's behemoth banks and securities houses. s. Treasury bonds, but also the loans, buildings and companies they once bought so eagerly. Growth inJapan's influence could be retarded ifJapan closes its checkbook. This possibility and the inherent difficulty of dealing with the amorphous Japanese system will likely retard the eventual acceptance ofjapan into the inner sanctum and its treatment as more of an equal.
Are they likely to survive competition under these new circumstances? Skeptics point to the fact that the quality of many eastern commodities is substandard. I There is little doubt that the productive capacity of nearly all East German companies will have to be restructured in the near future. According to oftencited forecasts, one-third of the companies will have only minor problems in restructuring their production. If capital can be attracted from West German international sources, approximately another 30 percent could be restored to financial soundness.
De Klerk of South Africa on the Democratic Party, which, incidentally, he concluded (correctly) was like trying to explain non-Euclidean geometry. In contemplating that experience and the initiative President de Klerk has taken to change the status quo in his country, it struck me that America's crusade for freedom and democracy, begun as an isolated, unprecedented experiment in governance some 214 years ago, has finally taken grip in the world at large. History is accelerating to hyperspeed. What was unthinkable only yesterday is unremarkable now.
An Economic Perspective on the Southwest: Defining the Decade: Proceedings of the 1990 Conference on the Southwest Economy Sponsored by the Federal Reserve Bank of Dallas by Alan Greenspan (auth.), Gerald P. O’Driscoll Jr., Stephen P. A. Brown (eds.)