Word: arabia
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Dates: during 1980-1989
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...Saudi Arabia...
...interest in Europe, meanwhile, has also brought some economic dividends. The Egyptians announced that France will build two $1 billion nuclear reactors in Egypt, and undertake construction of a $600 million subway in Cairo. At the same time, Sadat is intensifying his ties with other Arab nations, notably Saudi Arabia, in a bid to restore Arab solidarity. Says a chief aide: "We may have plenty to talk about when President Sadat finally meets Reagan...
...establish bases either in Israel or in pro-Western Arab states, assuming one were willing to accept an American military presence. A base in Israel would antagonize moderate Arabs; a base in Egypt or Saudi Arabia, say, might...
Says "Adam Smith," pen name of George J.W. Goodman: "We have seen the greatest transfer of wealth in the history of the world, practically without a shot being fired." Saudi Arabia alone takes in $166 million a day for its oil. After two jolting oil shortages in the '70s, faith in paper money is badly shaken...
What of the future? Goodman does not indulge in hollow optimism or shrill pessimism. He is worried. If Saudi Arabia, which accounts for nearly one-third of OPEC's output, drastically cuts the flow, there will be economic depression in the West. On the brighter side: Saudi Arabian moderation may prevail in the Middle East; conservation and higher production in the West may curb the growth of petrodollars, increase confidence in currency and spur a greater sense of community. The bottom line of Paper Money is that, depending on those pesky exogenous variables, things could go either...