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...gross domestic product ($547 billion in 1986). But in economic matters, the crippling U.S. budget and trade deficits cause America to appear as a supplicant rather than a confident leader. The $170 billion shortfall in trade last year made the U.S. the world's largest debtor nation. A Western diplomat in Venice said bluntly, "The strategy of the U.S. at the summit does not take into account its declining economic power...

Author: /time Magazine | Title: Back To the Berlin Wall | 6/12/2007 | See Source »

...year-old President appeared visibly older and slower, physically and mentally. He dismayed several heads of government by reading from index cards during informal gatherings, something he had not done at previous summits. Compared with his performance at the Tokyo summit last year, said a French diplomat, the President "seemed much less at ease, much more hesitant...

Author: /time Magazine | Title: Back To the Berlin Wall | 6/12/2007 | See Source »

...Mexico in the 1930s to Russia today. And although there have been attacks on oil installations in Nigeria, the region does not experience the sort of out-of-control violence that now plagues Iraq. Such factors make "West Africa of great interest and great significance," says a senior American diplomat in the region. In fact, five years ago the U.S. State Department declared West African oil a "strategic national interest...

Author: /time Magazine | Title: Africa's Oil Dreams | 5/31/2007 | See Source »

...security guard protecting his charges. But Pullo works for the other side. "We are not taking hostages because of money," he says. "We are taking hostages to draw world attention to our plight." Nigeria is the oil giant of Africa. It is also, as an American diplomat in the region says, "one big problem...

Author: /time Magazine | Title: Africa's Oil Dreams | 5/31/2007 | See Source »

...energy security depends in part on political and economic stability in West Africa." American warships already patrol off West Africa, and U.S. energy and security experts have repeatedly called for a permanent military base in the region, possibly on São Tomé and Principe. The American diplomat is dismissive. "The notion that we're going to build a base on São Tomé, like Guantánamo or Diego Garcia, is unrealistic," he says, but he adds that the U.S. is talking to several countries around the region about a permanent U.S. naval presence. The formation...

Author: /time Magazine | Title: Africa's Oil Dreams | 5/31/2007 | See Source »

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