Word: nationalizes
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...when oil prices started to rise in 2003, Saudi Arabia was ready. For one thing, the Saudi Arabian Monetary Agency, the country's central bank, had greatly expanded the number of well-trained national staffers. Second, it had at its helm officials who remembered the bad days of low oil revenues. That meant that when the oil gushers were turned up again, money was saved and not aggressively spent as elsewhere in the region. The nation's wealth was also placed in very liquid investments, predominantly U.S. government paper assets, rather than real estate. While other regional investment funds were...
...Chuck was voted one of the 10 greatest coaches in NBA history. He won 638 regular-season games during 13 years in the league and another 75 in his 12 playoff appearances. When the time came to pick a coach for the greatest team ever assembled, our nation turned to Coach Daly. He didn't disappoint, leading the Dream Team to Olympic gold...
...many on the outside, Germany looks like a big, rich country enjoying the benefits of being Europe's largest economy. Inside, Germans know that looks can be deceiving. As in any nation, parts of Germany suffer from poverty, and Germans have always assumed they knew which parts: the west is rich and the east is poor. But a new report reveals the truth isn't that simple. The wealth imbalance in Germany isn't just between east and west; there are also large regional differences between the country's north and south. And across the country there are pockets...
...report say targeted measures are needed to tackle poverty and unemployment in the poorest regions, but they admit there's no magic bullet. As the recession bites ever deeper, and with a general election coming in September, German policymakers will have to wake up to the nation's growing poverty problems - and fast...
...most isolated country. The only thing that would meaningfully "deepen" that isolation would be for China to shut down trade entirely across its border - something Beijing has never given any indication that it's prepared to do. The idea that Kim Jong Il's regime even cares if the nation's isolation "deepens" is dubious at best. As for the U.N., it met in emergency session just after the long-range missile launch in April and gently tightened sanctions that were already having no demonstrable effect on North Korea's behavior on key security issues. Will another "emergency session" really...