Word: algerias
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...export earnings, and from the war's cost, estimated at $1 million a day. Internationally, he has been virtually ostracized not only by other Third World countries but even by former Western patrons like France. Worst of all, since the Polisario is based in and backed by Algeria, Hassan's socialist antagonist to the east, the King regularly runs the risk of provoking a wider, full-scale war between North Africa's two most populous countries...
...lower reaches of the Western Sahara. To forestall a Polisario takeover there, Hassan promptly occupied the area with 2,500 legionnaires and proclaimed it Morocco's 40th province. Though it was cheered by flag-waving children, that annexation sorely raised the level of tension across the Maghreb. Algeria immediately accused Hassan of being manipulated by "colonialists and imperialists." The Polisario vowed to "intensify military operations inside Morocco as well as within the Sahara territory." It was no idle threat, coming as it did on the heels of the insurgents' fiercest military operation to date: a frontal attack...
...only in the U.S., but in countries as disparate as Sri Lanka, Canada and Algeria, there is an attraction to the new, incentive economics. Among developing nations, those that have prospered most have had the freest, most market-oriented economies: Singapore, Taiwan and South Korea, among others. In industrial Europe, incentive economics is making particularly rapid progress...
Some members are beginning to take price-boosting actions on their own. Last week Nigeria announced plans for a 10% cutback in the production of its much prized low-sulfur crude, Algeria threatened an even larger 20% cut of its own, and Kuwait indicated that it intended to reduce output by as much as 25% early next year...
...Nigerian and Algerian governments argue that the cuts are for purely technical reasons, to prevent the damage to their oilfields that would result if they continued indefinitely pumping out crude at recent rapid rates. Nigeria's claim may be partly justified, but Western oilmen charge that Algeria's alleged cutback is nothing more than a sleight of hand. Algeria is secretly selling the oil for top dollar to spot-market buyers. Reports a high oil company executive: "What appears to be a cutback is really just a diversion to the spot market. This is more than a suspicion...