Word: third world
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Venter decided he would become a doctor and work in the Third World. In a blazing six years, he finished his coursework, published a string of papers, was awarded his Ph.D. and found himself teaching med students. Along the way, he learned that his gifts lay less in medicine than in medical research. In the late '70s he met Fraser. They were married, and except for one brief professional separation have worked side by side ever since...
...selling off two global automotive businesses this year. "A fair amount of that," says chairman Travis Engen, "will go to Asia. Much of the world's electronics is being produced there, and our footprint there in electrical connectors is rather modest. So that is an area where we would specifically like to make great investments in acquisitions." Asia supplies about 5% of ITT's global revenues, but Engen foresees that rising to a third in about 15 years--or in less time, if the company can make profitable acquisitions fast...
...Pretty much any university that does licensing, they license to use at least some sweatshops in Third World countries," he said. He said he thinks Harvard administrators want to do the right thing but are hesitant about publicly committing to the principles...
...that barred the way into Karura Forest, on the outskirts of Nairobi. They stood guarding the site of what many Kenyans were calling an environmental outrage. More than a third of the 2,500-acre forest had been sold to land developers for a luxury housing project backed by President Daniel arap Moi, and 50 acres had already been cleared--less than half a mile away from Nairobi's world headquarters of the United Nations Environment Program. A week earlier, protesters had invaded the site and burned $1 million worth of bulldozers and tree-cutting equipment. Another demonstration had been...
...take the pain, but not forever. The Commerce Department Wednesday announced an 8.1 percent surge in the nation's third-quarter trade deficit, to a record $61.3 billion -- a direct result of the Asian crisis that has left imports even cheaper while drying up the market for U.S. exports. "The booming trade deficit hurts the U.S. economy, but we have no alternative," says TIME senior business writer Bernard Baumohl. "The only way we can help Asia, and the world economy, rebound is to keep on importing their goods...