Abstract

Editorials
Shapiro, Bruce | July 18, 1994 issue

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This article comments on the continuous falling value of the U.S. dollar, with specific reference to Yen, the monetary unit of Japan. The dollar's travails are increasingly a U.S. problem, and its recent plunge is a narrower drama, which has more to do with the relative strength of yen and marks than with the fate of the world as one knows it. When the dollar fell below the 100-yen line, the media made the fluctuation into a disaster, primarily to bait the President Bill Clinton's administration for its "weakness" and goad economic policy-makers into greater conservatism higher interest rates, more austere budgets, less social investment.

See Also:

DOLLAR, American; DEVALUATION of currency; CURRENCY crises; YEN, Japanese; CLINTON, Bill, 1946-; FOREIGN exchange
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