Word: growth
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Dates: during 1970-1979
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...earth who will fail to suffer from these extraordinary increases," proclaimed Jimmy Carter, with only mild hyperbole. He and the leaders of Britain, Canada, France, Italy, Japan and West Germany issued a communiqué spelling out why: "Unwarranted rises in oil prices mean more worldwide inflation and less [economic] growth. That will lead to more unemployment, more balance of payments difficulty, and [will] endanger stability. We deplore the [OPEC] decision...
...other industrial countries, the situation varies. Inflation has been speeding up throughout Europe and Japan and will be accelerated further by the oil increase. But in the other six summit countries, unlike the U.S., economic growth has been showing signs of revival this year. Now output and employment will inevitably slow as petroleum prices soar. How bad will the recession that has apparently begun in the U.S. become? That depends heavily on whether OPEC can somehow be persuaded to stop the price spiral at its present point...
Inflation, already at double-digit levels in the U.S. and climbing rapidly in many other industrial nations, will go still higher. Economic growth will slow to at best a crawl, and unemployment will grow, in the U.S. by perhaps as much as 1.4 million in the next twelve months. In short, for the second time in a decade, the threat of an OPEC-induced global slump is imminent...
Haig will also be a participant in the SALT II debate, elaborating on the warnings about the Soviet military buildup that he sounded as NATO military chief. He told TIME last week: "For 15 years, American restraint has not been matched by Soviet restraint. The growth of Soviet military power has been relentless, reflecting unflagging determination. Are we going to be able to do what is necessary to protect our vital interests under SALT II, or better without SALT II?" While in uniform, he avoided giving his answer to that question, though he was known to have some doubts about...
...share of economic problems. Its new Conservative Prime Minister, Joe Clark, is committed to cutting inflation from its present annual rate of 11.7% to 5% and joblessness from 7.9% to 5.5% by 1985. Clark has vowed to use tax cuts and other incentives to boost Can ada's growth from its present level...