Word: robustness
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...price rises looks increasingly illusive. Some economists, including Harvard's Otto Eckstein and Washington Consultant Michael Evans, have withdrawn earlier firm predictions of recession and say that the economy may not decline this year. The Administration still forecasts a modest 1% drop in growth. Some indicators are surprisingly robust. Despite record high mortgage rates, housing is stronger than was expected. Says Kyle McMullin, a homebuilder in Bountiful, Utah: "People are getting used to the idea of 13% mortgages, and they are getting used to the idea that we won't have a big recession...
...Emmanuel Le Roy Ladurie managed a singular coup last year. His book Montaillou, a painstakingly detailed account of life in a small French town in the Pyrenees at the beginning of the 14th century, became a surprise bestseller. But then, Montaillou was a singular town. The curious beliefs, the robust lives and the sexual proclivities of its townspeople, revealed through the testimony in their subsequent heresy trials, afforded an intriguing peephole into another time...
...year since the U.S. extended full diplomatic recognition to Peking and consequently "derecognized" the Republic of China, the abandoned embassy in Taipei has come to symbolize the passing of the American era. Yet Taiwan has demonstrated a robust self-reliance during the past year, and its relationship with Washington has changed far more in form than in substance. Though the formal U.S. presence is gone and its last legal vestige, the Mutual Defense Treaty, is due to expire next week, other links are thicker than ever. "Both sides," says an American resident in Taiwan, "are playing the new game...
Then there is oil. An exporter only since 1974, Egypt will sell $1.1 billion worth of crude this year, accounting for 40% of its trade income. Never a member of OPEC, the country doubled the price of its oil early this year and now charges a robust $34 per bbl., except for what is sold to Israel. Egypt reportedly agreed to sell oil to the Israelis at a price of roughly $27 per bbl. in the hope that this would encourage investment in Egypt by Jewish-American businessmen. Oil-exploration deals have been signed with a number of Western firms...
...surrey with the fringe on top. More than any other theater form, the musical mirrors the social milieu in which it is born. This show's ostensible locale and time span are Indian territory, now Oklahoma, just before statehood. But its real dateline is U.S.A., 1943. It exudes robust confidence, the abiding force of the individual will, and a subliminal, but immutable, determination to defeat the Nazis and the Japanese...