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...party democracy is often hard to tell from no-party dictatorship in Africa, Somalia is an exuberant exception. Election day brought 1,000,000 Somalis to the polls to choose among 21 political parties, including one fringe group running on the single fervent conviction that the country should import only Fiats, to ease the shortage of auto parts. If the proliferation of parties resembled the nightmare of French politics before De Gaulle, the Somalis' fist-swinging, rock-throwing, vote-early-and-often electioneering style seemed more like vintage Chicago. With African differences...
...helping, and foreign bankers tend to shun the little man in favor of big companies. Many beginners have to scrape deep to supply their own capital; others are forced to borrow on a short-term basis at interest rates that range from 18% to 25%. These charges, plus high import duties on American-made equipment, make many foreign ventures much more expensive to set up than similar ones...
...hungry Australia spends more than $250 million a year to import petroleum, an outlay that hardly pleases its export-minded government. Alarmed by this drain, Australia began subsidizing oil exploration six years ago, has since spent more than $45 million sending drill and rig out across its vast uncharted continent, often to the amazement of its aborigines and the terror of its kangaroos. More than 100 companies and syndicates now hold permits to look for oil in Australia. Such firms as Union Oil of California, Shell, Texaco, Delhi-Taylor and Kern County Land have so far drilled more than...
Rossiter draws back in time, for as he points out, Hamilton's "growing reputation is due in no small part to his ability to defy classification." The import of Rossiter's revaluation is that Hamilton was a teacher of the whole nation, one of a handful of famous men in U.S. history with whom liberals and conservatives alike must make their peace...
...Such nontariff trade restric tions as import quotas, indirect taxes and antidumping laws, which GATT members are also committed to consider, have little chance of being negotiated amid the complexities and confusion of the tariff debate...