Word: higher
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Dates: during 1970-1979
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...summit, to be sure, has a full agenda of other, leftover economic topics. But with the West German and Japanese domestic economies now pulling their weight, the old problem of economic growth and recovery has become less urgent. The dollar is riding higher these days, so monetary questions will also be secondary, even if, as one U.S. official warned, "there is almost certain to be turbulence in the money markets later this year." And with the industrial economies themselves newly threatened by the energy crunch, there is bound to be little enthusiasm for fresh initiatives toward the developing countries...
...President Valery Giscard d'Estaing, for instance, is expected to lobby strenuously for legislated energy saving and tight price controls in the name of "consumer solidarity." Many Japanese and West German experts, however, argue that governments should not interfere with market forces. Their theory is that ultimately only higher oil prices will force consumers to economize and encourage other forms of energy. Says Tokyo Economist Nobutane Kiuchi: "It may take another recession before the leaders learn this fact." Significantly enough, the three newest members of the summit club -Britain's Margaret Thatcher, Canada's Joe Clark...
...part, the Administration will charge the others with forcing higher prices by their rush to buy Rotterdam spot oil at staggering premiums. The U.S.has joined in the competition for supplies. But West Germany and Japan are believed to be especially guilty of this practice, which they are better able to afford with their ample trade surpluses and dollar reserves. Complains one U.S. official: "They think they can buy their way out." Warns another: "The way out of this situation is not for the Western nations to bid against each other. That just helps OPEC...
Jenkin candidly admitted that the new budget will result in an increase of the annual rate from 10.3% to 17.5% by next November. Thus many who will benefit from the changed tax structure may find their gains eroded by higher inflation...
...past two months there have been a number of clashes between Palestinians and the settlers, in which several Arabs have been killed or injured. Israeli troops have been more active in cracking down on the Arabs than on the settlers. Bir Zeit University, one of three Arab institutions of higher learning on the West Bank, has been closed since May. When residents of Nablus staged a general strike to protest Elon Moreh, soldiers forced shopkeepers to reopen their stores. The old Israeli practice of demolishing the homes of suspected terrorists has been revived...