Word: oils
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Dates: during 1970-1979
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...Confronted with an urgent need for imported petroleum, the Premier flies off to the Middle East to cement Italy's relations with the oil-producing states. After a four-country tour, he succeeds in fostering several economic deals with Libya and Iraq...
...leader in recent Italian history has been able to demonstrate the mastery of persuasiva that Premier Giulio Andreotti routinely employs. Having in a few weeks time derailed a crippling strike, guarded his nation's access to continued oil shipments and committed his monetary policy to the new European plan. Andreotti is being sternly tested once again. Already under attack from within his parliamentary coalition and even from fellow Christian Democrats, he will soon face a crucial vote on his new economic program. If he loses, Italy's fragile coalition government, which relies on the Communists for support, could...
Whoever follows will lead a fairly healthy nation, but he will confront serious problems as well. Boumedienne used oil revenues and international loans to build a modern society and revive the flagging Arab culture he had come from. A socialist and revolutionary ideologue who turned to Moscow for military assistance, the pragmatic Boumedienne also looked west for markets and technology. The U.S. has become Algeria's principal trading partner, buying oil and, more important, natural gas, while providing factories for consumer goods and training to teach Algerians to run the new facilities...
...Third World is also moving into steelmaking. Brazil and Mexico have already become exporters. Argentina and Chile are increasing their capacity. By the early 1980s some of the oil-producing Arab countries will be turning out steel. In shipbuilding, South Korea and Brazil have some yards that are more modern than Western Europe's. Along with Poland and Taiwan, they can produce bulk carriers even more cheaply than Japan...
Striking workers paralyzed key industries: power, communications, transport and, the heart of the nation's wealth, oil production. At the same time, the ravaging mobs concentrated their destructive efforts on the banks, which Islamic extremists see as symbols of Western decadence and leftists view as outposts of capitalistic exploitation. On Nov. 5 alone, 400 banks were damaged or destroyed by rioting. In 1978, 1,400 of the nation's 7,000 banks have been attacked...