Word: cartels
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Dates: during 1980-1989
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...felt as early as next month's meeting in Vienna of the Organization of Petroleum Exporting Countries. According to Oil Analyst Dan Lundberg, editor of the Lundberg Letter, the offshore gusher could lead to more unofficial price cutting by dissident OPEC members, weakening the links in the powerful cartel...
This predicament has not escaped the notice of the developing world. In Havana last spring, at the annual meeting of the Association of Third World Economists, representatives of developing countries praised a proposal for the formation of a "debtors' cartel" to negotiate more favorable credit terms from Western lenders and put an end to the IMF's "financial colonialism...
While a showdown seems unlikely in the near future, developing countries should form the debtors' cartel anyway to dramatize their need to break out of the vicious circle of indebtedness that hands control of entire countries over to outsiders...
...labor leaders argue that the agency exports American jobs overseas, even though OPIC contends that it is a creator of employment by encouraging U.S. exports. null biggest problem, though, might be confusion with that other organization. Said one Haitian businessman: "OPIC? OPEC? I thought it was the oil cartel, but we soon learned they weren't throwing money around like the Arabs...
...official opening two weeks ago of the Jwaneng diamond mine in Botswana, near the southern tip of Africa, should have been an occasion for celebration. After all, Harry Oppenheimer, 73, the chairman of De Beers, the cartel that controls the production and sale of most of the world's diamonds, has called the site "the most important primary deposit found anywhere in the world since the discovery at Kimberley more than a century ago." The rich ore of the Jwaneng mine is expected to produce 3 million carats of precious stones in 1982, and eventually 4.5 million carats annually...