Word: bonnes
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Dates: during 1970-1979
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...tried to nag West Germany into pumping up its economy to reduce the trade surpluses that are prompting conversion of dollars into deutsche marks. The West Germans, fearing inflation, resisted so sternly that the best the U.S. has managed is an agreement under which Washington and Bonn will stop calling each other names in public...
Once again the U.S. has tried to persuade West Germany to help spur a worldwide economic recovery by dumping its slow-growth policies in favor of accelerated expansion-and once again the Germans have refused. At a tense three-hour meeting in Bonn, Treasury Secretary Michael Blumenthal was lectured last week by Chancellor Helmut Schmidt about the U.S.'s economic "sins." Among the most grievous cited by Schmidt: the absence of a coherent energy program; the U.S.'s huge foreign trade deficit, which stimulates international inflation; and Washington's unconscionable failure to support the sagging dollar...
...Germans are exaggerating their weaknesses. West Germany last month became the first industrial nation to sell as much in goods to the OPEC members as it spends for oil imports. West Germany's trade surplus with the rest of the world reached $17.5 billion last year, and Bonn has a $36 billion reserve of gold and foreign currencies. Most important for the nervous West Germans, who are still traumatized by the ravaging inflation of the '20s, the cost of living rose only 4% last year (compared with 10% in France...
...which in the '60s rivaled that of the Japanese, has slowed to a stumble. At last May's London summit, Schmidt assured fellow leaders that his country would achieve a 5% expansion in 1977. The true figure, however, was only 2.4%, and there is no guarantee that Bonn will achieve its 3.5% target...
Like Begin, Sadat is secure in power at home-unless, possibly, negotiations totally collapse. Last week he sent Egyptian diplomats to a number of foreign capitals (London, Paris, Bonn, Belgrade and Tehran) to round up support for his initiative. As part of that strategy, Sadat has also requested military aid from the U.S. that would be equivalent to what is being given Israel. The Administration is considering a variety of options, one of which involves the sale of anywhere from 50 to 120 F-5E jet fighters over a period of up to three years...