Word: america
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Dates: during 1990-1999
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China, meanwhile, is on track for 7% to 8% growth, and Asia's battered tigers appear to have bottomed out, according to Courtis. But Russia is far from recovery. And the choice this year in Latin America, says Moises Naim, editor of Foreign Policy magazine, is "between slowdown or meltdown. There's no other option." But the board agreed that this year's performance by the emerging economies will depend less on their own policy choices than on core country growth...
Last summer Russia's collapse had the peculiar result of spurring foreign banks and money managers to run screaming from Brazil--and Brazil's tumble cascaded through Latin America. "So we are living in this funny interconnected world," says Naim, "where a country that does not trade with Latin America, does not have investments with Latin America, is on the other side of the world from Latin America, crashes and takes down Latin America...
Nobody needs to be told what to hate about this year, what made us flinch or groan, change the channel, fling the magazine across the room. Generations of scholars yet unborn will read shelves of books yet unwritten trying to figure out what went wrong in America in 1998 and why. So maybe it's the lazy luxury of relief, now that it's over, to look at what might have gone right and toast the new era with a glass half full...
Perhaps I am wrong about all this. Maybe when we return to the ordinary business of the country, he will seem less sinister. Maybe his real service to America lies ahead, and he will save Social Security and fashion a redeeming legacy...
Apparently, in a White House with its eyes firmly fixed on the 2000 election, the idea of co-opting such a Republican hobbyhorse, especially one likely to win congressional approval, was just too delicious. America's weapons manufacturers love the system and its total $11 billion price tag, and will lobby strongly for it. But in Russia the prospect of another era of costly weapons building, similar to the one that helped bust the former Soviet Union, is driving the leadership wild. Washington's planned system could violate the venerable 1972 Antiballistic Missile Treaty, the bedrock on which all subsequent...