Word: growth
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Dates: during 1980-1989
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...outlook is quite different for most of the Asian nations that are dependent on commodity exports, for which prices are deeply depressed. In both Indonesia, a major oil exporter, and Malaysia, a supplier of rubber and tin, virtually no growth is expected through 1987. Says Peter Drysdale, executive director of the Australia-Japan Research Center in Canberra: "There are going to be considerable stresses on the commodity-exporting part of the Western Pacific economy over the next 18 months or so." He noted that Australia had been severely hurt by low prices for agricultural exports. But after expanding...
...small upswing in growth is expected to have a mixed impact on the uncomfortable levels of unemployment around the world. In Western Europe, the jobless rate will decline from its current 12.1% to 10.3% by the end of 1987. But no improvement at all is seen for the 13.3% unemployment rate in Britain, which Hans Mast, a senior economic adviser to the Credit Suisse First Boston investment bank, called the "sick man of Europe." In the U.S., unemployment will rise slightly, from 7% to 7.3%, by year's end and remain unchanged for 1987. Across the Pacific rim, jobless rates...
World economic performance would be much more sprightly were it not for the sluggishness of the U.S. During 1983 and 1984, the U.S. was a powerful locomotive for global growth, but last year the engine began to run out of steam. At the moment, American industry is operating at only 79% of its capacity, the lowest level since...
...country's imports and spurring its exports. That in turn should have curbed the record U.S. trade deficit ($148.5 billion last year), which has crippled many American industries and produced what Martin Feldstein, a Harvard professor and former chief economic adviser to President Reagan, calls "slow and twisted" growth...
Among other things, Musich pointed to heartening signs of positive economic growth in two of Latin America's major economies: Argentina (with a foreign debt of about $51 billion) and Brazil (about $107 billion). He forecast that Argentina's economy would grow 4% this year and Brazil's 3.5%. At the same time, Musich noted, Latin American countries have successfully rescheduled payments on $100 billion of their $370 billion in foreign obligations. Last year the Latin debt total grew only 2%, meaning that for the first time in many years the debt actually declined about 2% in inflation- adjusted terms...