Word: abroadâ
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Despite the hostility directed at the country from abroad???and the anger burning from within?white South Africa remains curiously peaceful. The street tensions and stonings within its removed black townships?even the ongoing massive school boycott by 200,000 students in Soweto?fail to transmit more than a ripple to what Novelist Nadine Gordimer (A World of Strangers) calls the "dreadful calm" of white society. So distant do such events seem, in fact, that most whites only learn of them from their newspapers. Of Johannesburg's white population of 600,000, precious few have ever set foot in Soweto...
...fairness, royalty does save elected officials the tedious and time-consuming burden of entertaining foreign dignitaries, ribbon cutting and showing the flag abroad???an obligation that can hardly be written off as caviar living...
...times, but the magic was fading. The tenuous peace he had engineered in Viet Nam, for which he won the Nobel Prize in 1973, unraveled when the Communists triumphed in Southeast Asia. Kissinger's laboriously constructed policy of détente was showing considerable wear as critics at home and abroad???not least of them the great Soviet writer Alexander Solzhenitsyn?complained that the Russians were exploiting the arrangement. But his critics were unable to present cogent alternatives to detente, and much of the opposition was based on unrealistic assumptions about what détente should or could achieve...
Tight money might have reduced inflation faster if big banks had not discovered ingenious methods of avoiding the Federal Reserve's pincers. To help meet corporations' vast appetites for loans in the face of the credit shortage, U.S. banks borrowed $13.3 billion in Eurodollars?U.S. dollars in private hands abroad???and brought them home. The board finally closed that loophole by imposing a 10% reserve requirement on borrowed Eurodollars. Thereafter, the banks circumvented restraint by issuing vast quantities of commercial paper ?unsecured promissory notes. Belatedly, the Reserve Board plugged that loophole by placing an interest-rate ceiling on commercial...
...done much of its engineering, presided over vast commercial empires ?and their sudden, simultaneous uprooting deprived the rest of Nigeria of its elite. What is more, like the message of jungle drums that is understood only by the initiated, the imperative summons mysteriously reached those Ibos comfortably ensconced abroad???medical specialists in London, university professors in the U.S., students in Europe. With few exceptions, they too abandoned everything and came home...