Word: foreign
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Dates: during 1970-1979
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...Reserve Bank of New York, to replace newly nominated Treasury Secretary G. William Miller as chairman of the Federal Reserve Board. Volcker, in Carter's words, "has broad economic and financial experience and enjoys an outstanding international reputation." The appointment was expected to calm the anxieties of many foreign financial figures about the future of the dollar (last week, however, the price of gold reached another record high: $307 an ounce...
Viet Nam is the focal point of these regional tensions. Its foreign ventures have cost Hanoi dearly. Contrary to their expectations, Vietnamese military commanders have seen their Cambodian campaign extend well into the rainy season, and there is no end in sight. Viet Nam's own economy is in bad shape, in part because of the Cambodia war, but also because of several bad crop years compounded by gross mismanagement. Viet Nam suffered enormous damage to its northern provinces during its fierce one-month war with China. Factories, schools, office buildings and other structures were demolished. Though...
...borders there is a full-scale war. We have Communist subversion within the country. Added to that there is the refugee problem that undermines our stability. We need arms to preserve peace. Tell the U.S. Congress to come to Thailand to see the situation. Giving us a foreign military sales credit of $24 million is not enough. Thailand faces a war situation. It deserves a higher priority. We need antiaircraft weapons, tanks, TOW missiles. We are a little impatient...
Desai's downfall had been in the making for some time. The Janata Party had never been united by anything but opposition to Gandhi. In recent weeks, disillusionment had grown over the government's failure to enforce a viable economic policy, despite huge food and foreign exchange reserves. In addition, intraparty disputes over the growing power of Jana Sangh, a right-wing Janata faction, had led to widespread defections from the alliance...
...begin to bite! The nation would be forced to conserve fuel, or produce more itself, to accommodate normal growth in the economy. But for the moment the quota's main, and not insignificant, value is to serve as a symbol of national determination to put some ceiling on foreign petroleum...