Word: australian
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Dates: during 1980-1989
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Hawke's economic message to the U.S. was less reassuring. With an inflation rate in Australia of 11.5%, unemployment at more than 10% and a $8.2 billion budget deficit inherited from the previous government, the Prime Minister warned repeatedly that any Australian economic recovery is largely dependent on moderate U.S. interest rates, unfettered trade and continued American investment in Australia...
...Foreign Policy Association at New York's Plaza Hotel, Hawke warned that any slackening of trade in the region, including the adoption of protectionist measures aimed at the Japanese, could indirectly slow Australia's economic recovery. He also made a plea for continued American investment in Australian industry (which has totaled $6 billion over the past five years). "We look forward to trade with and investment from the United States playing an important role in [our] recovery," said Hawke. "Ours is a relationship which goes far beyond the defense, strategic and security concerns. Trade and investment form...
Back home, Hawke's foreign travels, and his encounter with President Reagan, met with mixed reviews. Sniffed the conservative Australian Financial Review: "Many Australians will dismiss Mr. Hawke's jawboning with Mr. Reagan as a mere B-grade movie publicity stunt." Predictably, Labor Party left-wingers were furious with the Prime Minister for playing fast and loose with what they consider key elements of the party's foreign policy. Labor M.P Ken Fry blasted Hawke's repudiation of party policy on Indonesia, among other things, accusing him of "sacrificing principle for expediency...
...balance, the Prime Minister of three months earned considerable political capital from his world travels. "Mr. Hawke . . . seems to have developed a real rapport with President Reagan and his colleagues which should service Australia well," gushed the Australian. Taking a somewhat longer view, the Melbourne Age editorialized: "When Mr. Hawke's warm memory of his days in Washington begins to fade under the pressures at home, he can at least take some comfort from the fact that the cozy pictures with President Reagan will not have done him any harm in terms of Australian politics." Hawke's domestic...
This year the rule restricting the challengers to materials obtainable and technology available in their own countries has been rescinded, which may have helped bring about the record turnout of foreign entries: three Australian, one French, one Canadian, one Italian and one English. "The more the scarier," frets Commodore Henry H. Anderson Jr. of the N.Y.Y.C.'S Cup Committee. Not that a realistic chance of victory has ever been central to the quest...