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...forecasting moderate growth for next year, board members assumed a continued downward drift in the foreign exchange value of the dollar. The U.S. currency has already fallen 17.5% since it peaked last February. The highflying dollar was the primary cause of a huge trade deficit because it made American exports expensive for foreigners and imports cheap for U.S. consumers. Last week the Commerce Department reported a $33 billion shortfall between America's exports and imports for the third quarter. By year's end the trade deficit will probably reach $145 billion. As the dollar weakens, the deficit should diminish. Said...

Author: /time Magazine | Title: More Growth Ahead in '86 | 12/30/1985 | See Source »

...CHAIRMEN haven't provided the only recent example that their party has begun to drift from the tenets it has long held...

Author: By Michael D. Nolan, | Title: Giving Up the Ship | 12/7/1985 | See Source »

...Dead have been known to drift into long jams mid-song which are sometimes electrifying and sometimes downright boring. Such is the nature of a band which experiments with its sound every night: taking musical risks is part of the Grateful Dead's style...

Author: By Adam Schwartz, | Title: Night of Living | 11/14/1985 | See Source »

...rival Conservative Party's agreement to stay out of the race. The Conservatives, who already hold 18 places in Parliament, came close to taking another seat themselves, losing in the town of Springs by only 749 votes. H.N.P. Leader Jaap Marais saw the elections as "a significant drift away from the National Party." The voting was made necessary by deaths and resignations in the all-white 178-seat House of Assembly, which dominates a tricameral Parliament that includes segregated chambers for coloreds and Indians. South Africa's 24 million blacks, who make up 74% of the population, cannot vote...

Author: /time Magazine | Title: South Africa Backlash | 11/11/1985 | See Source »

...country. The government fears that all these domestic opponents might band together with the contras in one anti-Sandinista front. That possibility is dismissed by opposition leaders, though in recent months many groups have been emboldened by Nicaragua's dire economic problems, an unpopular military draft and the Sandinistas' drift toward an increasingly authoritarian rule. "Things were coming to a head," says a well-placed Sandinista. "This is a warning shot to the internal opposition. We are not going to be a self-destructive revolution...

Author: /time Magazine | Title: Nicaragua Enemies Within | 10/28/1985 | See Source »

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