Word: exports
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Dates: during 1980-1989
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...economy which many observers say is on the verge of wholescale collapse. Inflation is nearly 60 percent, per capita income is rapidly declining and the country's foreign debt is roughly $104 billion. Service and interest payments on this debt alone demand more than 40 percent of Mexico's export earnings, money desperately needed to revitalize the country's industrial base...
Decades of misuse have left the earth spent and barren; today only 2% of Haiti is forested. The rape of trees began in colonial times with the export of hardwoods, used for the production of everything from dyes to ships. These days trees are the peasants' only real cash crop. A muddy brown ring surrounds Haiti's coast as the topsoil erodes and dissolves into the turquoise Caribbean, leaving behind what amounts to tropical desert. Reforestation efforts are outpaced by the country's demand for charcoal, a critical fuel in the urban areas...
...stuck to an austerity program that has slashed the country's inflation rate from 15.5% a month in January to less than 1% in September. Luck, however, has not been on the government's side, and the recent plunge in the price of oil, Mexico's principal export, threatens to create a new financial crisis and political unrest...
Many marine biologists worry that the U.S. all too easily squanders its concern and resources on such individual rescue efforts, while programs that might benefit the whole species go begging. Others point out that the money spent on the rescue could substantially increase enforcement to prevent the illegal export of whale products. Still, many animal lovers saw the effort as an unalloyed plus. "Every time we are made more aware that we share this planet with other organisms, it brings us into the web of life," says John Hall, a San Diego-based whale expert...
...prospect is ominous, however, for indebted developing countries that can ill afford a collapse in the value of their oil exports. In Algeria, falling oil revenue and prolonged government austerity measures have been blamed for triggering the recent riots that have killed as many as 400 people. Mexico, which relies on oil for 40% of its total export income, expects that oil revenues will fall below $6 billion this year, compared with exports worth $7.8 billion in 1987. As a result, Mexican President Miguel de la Madrid has announced $220 million in new cuts in the government's $90 billion...