Word: short-term
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China. The Haig team contends that the press overplayed the understanding on weapons, since, in fact, as one aide said, "there is no decision to sell arms." Besides, insisted a Haig adviser, "we are not playing the China card, not looking for short-term gratuitous insults to the Soviets. There is no connection between a sound relationship with China and a sound relationship with the Soviet Union." While Haig had suggested before his trip that arms might be discussed in Peking, he nonetheless should not have been surprised by the attention the announcement attracted. Moreover, it would be naive...
...Taiwan government, which still has influential friends in the Reagan White House and on Capitol Hill, saw Haig's visit in another light. Taipei contends that China is using its ties with the U.S. only to conquer short-term difficulties and that the two countries are bound to turn hostile again. And if Washington sells Peking any arms, the Taiwanese warn, beware the long-range consequences. C.J. Chen, director of the North American affairs section of the foreign ministry in Taipei, put it succinctly by quoting a Chinese proverb: " 'If you feed a tiger, sooner or later...
Mexico is expected to lose an estimated $1.2 billion or so in foreign exchange earnings as a result of Diaz Serrano's action. To pay its bills, the nation will have to negotiate as much as $1.2 billion in short-term credits from foreign lenders in the coming year. That could add five percentage points to an inflation rate that economists already foresee reaching 30% by year...
...might be robbing money-market funds. In the past three years, Americans have put $113 billion into money-market funds, often by taking their cash out of low-interest savings accounts. The increasingly popular money funds pay high interest (last week an average of 16.9%) by investing in short-term securities like U.S. Treasury bills...
Many American economists now predict a reduction in inflation to around 8% by year's end, and growth in real terms of a modest 2.3%. Said Brittan: "A lot of the relative optimism depends on a quirk in your Consumer Price Index, which can show substantial short-term fluctuations with little change in the underlying rate of inflation." The annual core inflation rate in the U.S., which is closely linked to wage rates, is now about...