Word: credit
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Dates: during 1980-1989
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...CREDIT: NO CREDIT...
...Chase Manhattan, bankers were responding to what they see as a relatively tight credit policy on the part of the Federal Reserve Board. Under Chairman Alan Greenspan, the Fed has allowed rates to rise because of its concern that the economy is expanding fast enough to kindle inflation...
...CREDIT: TIME Chart by Joe Lertola...
Still, it is part of Gorbachev's genius that he not only gets credit for saying da -- after decades of nyets coming out of Moscow -- but he also has been able to turn the tables on the U.S., making American diplomacy seem reactive, unimaginative, even recalcitrant. Mired in "old thinking," the U.S. has been on the defensive at the U.N. of late, especially in the wake of Secretary of State George Shultz's refusal to grant a visa that would have permitted Palestine Liberation Organization Chairman Yasser Arafat to address the world body at its headquarters on the East River...
...other end of the Eurasian landmass, in South Korea. The South Koreans were ecstatic that even though Moscow and Seoul have no diplomatic relations, the U.S.S.R. sent its team to the Olympics in September and the Bolshoi Ballet to an arts festival. South Korean officials give Moscow credit for using its clout in North Korea to keep the militant Communist regime there from starting a new war on the peninsula. With a mild wave of anti-Americanism sweeping South Korea these days, there is no question that the Soviets are taking advantage of a classic target of opportunity to extend...