Word: have-nots
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The developing countries' oil-import bill jumped from $4 billion in 1972 to about $44 billion this year, and some have-not nations are openly complaining about OPEC. The worsening crisis over crude prices may create an ideological dilemma for Third World leaders like Tanzania's Nyerere who...
Just as a homeowner struggling with heating bills may turn to his bank for help, the have-not nations are hefty borrowers. Their loans from Western banks and international aid authorities have surged to a dangerously high $300 billion, and are expected to rise some $60 billion next year. The...
After two days of stormy meetings, the OPEC ministers agreed to raise their prices for the second time in a little more than three months-on this occasion by 9%, bringing the cost of a barrel of the marker crude, Saudi Arabian light oil, to $14.55 per bbl. Though that...
Enough food is left over to make the export capacity of American agriculture the hope of the have-not world. Farm-product exports tripled in the past six years to almost $27 billion, helping mightily to offset the cost of imports. The U.S. exports more wheat, corn and other coarse...
The opposition reflects a doubt that growth, once the watchword of the can-do American philosophy, is good. The skeptics ignore the reality that a slow-growth or no-growth philosophy could kill the promise of upward mobility. That may be acceptable to the middle-and upper-income people who...