Word: nationalizes
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Dates: during 1970-1979
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There were gifts aplenty last week at a birthday party for the world's newest nation, which happens to be a real banana republic. The tiny Commonwealth of Dominica (pop. 78,000), a 290-sq.-mi. speck in the Lesser Antilles, earns 70% of its $12 million export revenues from the serviceable fruit, and it has replaced Queen Elizabeth II as head of state with a ceremonial President. Nonetheless, the Queen's younger sister, a newly thinned-down Princess Margaret, presided over the independence ceremonies that made Dominica the Western Hemisphere's 30th sovereign state...
...reason for Dominica's push for independence was dissatisfaction with its status as a British "Associated State," which meant that it was something more than a colony but something less than a sovereign nation. As an Associated State, Dominica could not apply for international economic aid or help from any nation other than Britain. Now the island seems intent on attaching itself to every organization with an aid program. Says Dominica's Foreign Minister, Leo Austin, 50: "We will join the Organization of American States, the United Nations, World Bank, all of them...
...alone. Fluor's brainchild was a $22 million research institute at U.S.C. to be called the Middle East Center and funded by American corporations, including his own, with a stake in the Middle East. After all, some 20% of U.S.C.'s enrollment is foreign (one of the nation's highest ratios), and a passel of Saudi princes has passed through there. When plans for the center were announced last month to U.S.C.'s trustees, however, Jewish leaders and the Los Angeles Times attacked it as a Trojan horse for Arab propaganda, and the center came under...
...18th century Japanese wood carving of a sleeping cat ($125). Besides beauty and style, what these and 112 other art objects being offered in a slickly handsome new catalogue have in common is that all are copies of works in the huge private collection of one of the nation's newest mail-order salesmen: Nelson Rockefeller...
Some help for the inflation-weary: the nation's 4,668 federally chartered banks can now offer interest on what is, in effect, money deposited for checking, and many have begun doing so. For the first time since the Depression, consumers can get some return on funds that the banks have long been able to use for free...