Word: surpluses
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Harvard posted a budget surplus and record giving in the past fiscal year, showing the University's continued fiscal health, according to the annual financial report to be released today...
...Chinese psychologists, sociologists and child counselors are quick to concede the shortcomings of single children, they emphatically reject the claims in the press that the little tyrants pose an alarming problem. They are certainly not cause for having more children, a development that China can do without, despite the surplus of parental love. According to Mao Yuyan, a psychology professor at the Chinese Academy of Sciences in Beijing, if parents want the atmosphere of a large family, they can organize their neighborhoods into quasi-clans. Children can also be trained in the collective spirit in nurseries and kindergartens...
...prices climbed more than 649% during the first nine months of 1987. The government's foreign currency reserves swelled by 150% to a comfortable $17 billion, the highest level of any Latin American debtor country, and a surge of exports helped the Mexicans rack up a $6.6 billion trade surplus...
...whites moved to the suburbs, urban areas were saddled with a glut of housing that, by law, could be sold or rented only to other whites. As recently as last year, this white flight had left at least one apartment out of four in central Johannesburg unoccupied, and surplus housing nationwide reached a total of 37,000 units. Market forces gradually overcame legal ones, and whites began renting to nonwhites, often with the assistance of real estate agents who specialize in "C.I.A. listings," a coy abbreviation for "colored, Indian and African." In Johannesburg the largest concentrations of nonwhites have settled...
History does not offer much encouragement on the benefits of devaluation. The British pound and Italian lira dropped during much of the 1970s, while the West German mark and other Continental currencies rose. Yet at the end of the decade West Germany was enjoying a massive trade surplus and manageable inflation. Britain and Italy, meanwhile, languished under trade deficits and double-digit inflation. Sir James Goldsmith, the British financier, witnessed the process firsthand. Warns he: "Like drugs, devaluation gives you a breather, a small kick. Then it becomes an inflationary merry-go-round to , hell." Only when Britain began pumping...