Word: australia
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Dates: during 1980-1989
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...quite different for most of the Asian nations that are dependent on commodity exports, for which prices are deeply depressed. In both Indonesia, a major oil exporter, and Malaysia, a supplier of rubber and tin, virtually no growth is expected through 1987. Says Peter Drysdale, executive director of the Australia-Japan Research Center in Canberra: "There are going to be considerable stresses on the commodity-exporting part of the Western Pacific economy over the next 18 months or so." He noted that Australia had been severely hurt by low prices for agricultural exports. But after expanding at a barely perceptible...
...adviser to the Credit Suisse First Boston investment bank, called the "sick man of Europe." In the U.S., unemployment will rise slightly, from 7% to 7.3%, by year's end and remain unchanged for 1987. Across the Pacific rim, jobless rates will remain relatively low next year, except in Australia (7.8%) and the Philippines...
Says TIME Senior Editor Donald Morrison, who will help coordinate the Australian-American effort: "We are embarking on this venture because we are committed to Australia and because we want to remain a major publication in this important market. We were delighted to find such a terrific partner. In its long history, the Fairfax organization has demonstrated the same kind of dedication to journalistic quality we have striven for in our 63 years...
...magazine will be similar to the other editions of TIME, which 32 million people around the world read each week. TIME AUSTRALIA will retain the parent magazine's award-winning design and news coverage. In addition, TIME AUSTRALIA will feature a new section, Australia, that will focus on major national news events. Other stories about life Down Under will appear throughout TIME AUSTRALIA in various sections of each issue, such as Economy & Business, Books, Medicine and Sport...
Such special Australian content will be edited in Melbourne by a staff of 14 that includes some of the country's most talented and experienced journalists and is headed by Editor Jeff Penberthy, 43, who has worked in the U.S. and Japan as well as his native Australia for a variety of newspapers and business magazines. Penberthy's task will be to give TIME an Australian idiom while at the same time preserving the magazine's international character. Says he: "International events and impressions of this country abroad are having a critical effect on the Australian economy and affecting...