Word: pullbacks
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...forces seemed determined to go with guns blazing after every faction that challenged them, the tactic threatened to create a backlash that would engulf British troops. In conversations with Bush, Blair urged calm, according to government sources who argue he can take some credit for the April 30 pullback from Fallujah. For both Blair and Bush, much now depends on being able to hand over to an Iraqi authority at the end of June. If that can be achieved Blair will be able to claim some final vindication; but if Iraq descends into a civil war with British troops caught...
TIME: The Madrid bombing triggered the market's first 5% pullback in a year. Will investors ever get over these events...
...back at least 50 km to bases south of Seoul over the next few years. It makes military sense?a few thousand grunts were never going to block an invasion by the 1.1 million-strong North Korean military. And in an era of precision-guided munitions, officials insist the pullback won't undermine the U.S.-South Korean defense alliance?or send the wrong signal to Pyongyang. Says Lieut. Colonel Steven Boylan, a spokesman for U.S. forces in South Korea: "Everything we are doing is to enhance the alliance, not diminish it." With anti-American sentiment still strong in South Korea...
...rate of 3.5% in the second half of this year and 4% in 2004, assuming--as any bullish case must--that the war keeps going well and there is no major terror event. Byron Wien, chief U.S. market strategist at Morgan Stanley, says investors who wait for a stock pullback will be disappointed. "The economy has done remarkably well in the face of high oil prices, a cold winter and the geopolitical concerns," he says. "Take those away, and it should really improve." He predicts that the market will rise 10% in the next few months and hold the gains...
...White House aide puts it, "they will pay too heavy a price if they pursue this nuclear approach." The 1994 framework is effectively dead. Pyongyang can no longer sell off its threats piecemeal. New U.S. demands will sweep across the spectrum of security issues, including a pullback of conventional forces from the DMZ. If Kim doesn't buckle, Washington will make its weight felt by cutting off outside aid except for humanitarian assistance. The risk, warns Gary Samore, a Clinton Administration National Security Council director on nonproliferation, is that Bush's tough-love diplomacy may bring on a deep chill...