Word: third world
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...take the record and become the world's best long jumper. In June, Lewis ate the dust of Mark Witherspoon and Dennis Mitchell at the 100-m U.S. Olympic trials. Shockingly he failed to qualify for either the 100- or 200-m sprints. In Barcelona for his third Olympic appearance, the world's fastest man has an outside shot at being chosen for the 4 X 100 m-U.S. relay team. But he's only guaranteed a chance to compete in the long jump, and is not assured a medal there. Still he has stuck to his usual training...
...turned out to be a dud. That seems to be true in Latin America, anyway -- and that was where countries had piled up by far the greatest amount of the international debt that sparked despair a decade ago. Experts feared that the ious would crush economies in the Third World, while defaults on the loans would bring down big banks and cause a First World financial crisis...
...however, the Latin countries have been negotiating agreements under which their creditors agreed to accept smaller repayments. The countries in return enacted economic reforms, chiefly steps to control inflation and open up to foreign investment. Last week Brazil, the last major Latin and biggest Third World debtor, worked out an arrangement with 19 banks representing 300 private creditors. The lenders will choose among six different ways to ease Brazil's burden of $44 billion owed to private banks. Those electing to take smaller payments of principal or interest will get Brazilian government guarantees that they really can collect the remaining...
...Angeles may be the most mythologized city of our time: "The City of Fallen Angels," "The Land Where Legends Are Made," "The Capital of the Third World," "La-la Land"--the list of monikers for the metropolis goes on and on. Everyone from the Mamas and the Papas to Roland Barthes has theorized on the significance of the First World's fastest growing urban center...
...poor, like a Third World country, butfree," he said...