winning_with_technology

developed their international market by emphasizing the
quality of their products. Products from Germany and Japan
were well received as high quality and trouble-free to use.
During the conflicts between Russia and the US in
the Gobachev and Kennedy era, the USSR felt its deposits
of US currency in New York were insecure and transferred
billions of dollars from its deposit in New York to Europe.
This was the beginning of the Euro-Dollar market. Since
then the US dollar has not been under the control of the US
government, and has been freely traded outside the US.
This market became very large because OPEC countries
became very rich after the oil crises in 1973 and 1978 and
deposited their money in Euro-Dollar currency. During the
1980s the high oil prices exacerbated the imbalance of
wealth between OPEC countries, industrialized countries
and under-developed countries. Money flew from Europe
and the US to the countries where the interest rates were
high. Countries in Latin America and Asia kept their interest
rates high for the inflow of money from overseas to develop
their countries. Many leaders in Latin America misused that
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Banja Junhasavasdikul, Ph.D.