Word: dollar
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Dates: during 1970-1979
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...book The South African Connection, the anti-apartheid author Ruth First writes that "by many South Africans Engelhard is regarded as the savior of the post-Sharpville economy." Individuals of somewhat different political sensibilities hold exactly the same view. Anglo-American, the multibillion dollar conglomerate the dominates the South African economy, offers this official word on Charles Engelhard: "In difficult times, when South Africa was badly in need of capital, Engelhard played a vital and signifigant role in helping to bring it from abroad. He thus not only restored confidence in the country's economy, but actively assisted in boosting...
BUDDING technocrats at the Kennedy School may find cause to admire the fiscal prudence with which Engelhard built his father's $20 million nest egg into a quarter-billion dollar empire. In his non-corporate life, however, Engelhard was not exactly the thrifty sort. His expenditures on life's luxuries make his philanthropic pittances pall by comparison. Before he died, Engelhard owned nine homes on four continents, including a hunting lodge in the Transvaal, and a mansion outside Johannesburg...
These new moves may help, but, they are not likely to narrow the wide gap by very much. At first, the Administration had hoped that the cheaper dollar would lift U.S. exports, and to a very limited degree it has done so. Nonetheless, two problems continue to bedevil U.S. trade...
About the dollar, however, the mood of the meeting was bleak. Although some experts held that the convergence of growth rates and declining trade surpluses in the nations that have them would help calm currency fluctuations and boost the buck, others reiterated that global money markets are no longer behaving rationally enough to be quieted down easily. Otmar Emminger, president of the West German Bundesbank, confessed that he had "given up hope that the markets would react to logic." Britain's Chancellor of the Exchequer Denis Healey found the entire world monetary system to be "in disarray...
...explanation, OAPEC spokesmen argued that a sizable increase was warranted because "persistent erosion" of the dollar and inflation in the developed countries had cut the real price of a liquid barrel of oil almost by half since 1973. Some other delegates also stressed Arab pique at the Camp David agreement. Iraqi Oil Minister Tayeh Abdul-Karim blasted it as "a policy of surrender" and made clear that he thought the Saudi policy of "moderation" on oil prices had done nothing to advance the Arab cause in the Middle East peace negotiations. Saudi Representative Abdul Hadi Taher replied bluntly that Middle...