Word: creditor
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Dates: during 1960-1969
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...having trouble with its foreign policy, it is largely because of its limping economy, writes Myrdal. The U.S. cannot persuade its allies of its policies because of its continuing balance of payments deficit. Some leadership is passing to the creditor nations of Europe-an ominous trend, thinks Myrdal, since he believes that democracy is not so firmly grounded in France, Germany or Italy...
...plan differed from conventional programs by "reversing the burden responsibility" for development "from creditor to debtor country...
...basic concepts was that he could profit by handing out presents-a car, a suit of clothes, a thousand dollars in cash-since the recipient would be under an obligation to do him future favors. Another notion was that when a debt gets big enough, the creditor acquires an interest in the survival and prosperity of the debtor. "If you get into anybody far enough," he often said, "you've got yourself a partner."* Estes got far enough into Commercial Solvents, a New York chemical manufacturer, which did become a sort of partner. It was this partnership that enabled...
...principle and interest on the bonds," he explained, "will be assessed according to the ordinary scale of contributions of which we pay only about one-third. Although the United States will buy about half of the bond issue, it is obviously better to be a 50 per cent creditor than an almost 50 per cent contributor...
...swallowed a small strychnine pill, which unfortunately had no effect even in his excited condition. At his trial three months later Webster admitted to striking Parkman with a stick of wood in the heat of an argument, but he stoutly maintained he had not meant to kill his creditor. Although the court-room gallery had room for only 100, it is reported that over 60,000 people saw some part of the trial...