Word: globally
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Dates: during 1970-1979
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...Secretary-General Waldheim's words, "face to face with a global emergency...
Just three years ago all the leading industrial nations were in a boom; living costs soared everywhere. Then oil producers quintupled prices, causing huge trade deficits for most consuming countries and sending global inflation flaring to double-digit levels. To curb runaway prices, one government after another cut spending and tightened up credit. Now these measures seem at long last to be slowing the pace of price increases in most countries, but at a heavy cost in lost output, joblessness and social unrest...
...individual nations, finding a way out of the present mess is particularly difficult precisely because of the recession's global scope. In the past, many European nations and Japan could stimulate their flagging economies by boosting exports. But because all the major economies are in decline at the same time, there is a marked dearth of buyers. Thus the rest of the industrial world can only fervently wish success for the moderately stimulative policies of Germany, Japan-and especially the U.S., by far the richest market...
Unfortunately, instead of addressing such points, the authors depart on flights of exaggeration that turn Global Reach into an overreach. Breathlessly capitalizing nouns, they assert that multinationals are run by World Managers who aim to create a Global Shopping Center or One Great Market. That Global...
...affairs. "What World Managers want from the American State," the authors say, "is a low military profile and a much more aggressive foreign economic policy." And "some corporate executives talk of building a 'belt of capitalism,' which will tie the U.S.S.R. and China into an integrated global system...