Word: third world
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...stock market's activity. Last week the world's largest computer company demonstrated its mighty influence when it stunned Wall Street with a disappointing earnings report. After IBM announced Tuesday that first-quarter profits would be $514 million instead of the $1.03 billion analysts had expected, the stock plunged, cutting the company's value $7 billion in a single day. The rest of the market followed, tumbling 62 points in the biggest one-day loss since Oct. 9. The market lost 89 points for the week, one-third of the decline attributed...
T.F.A.P. was the industrial world's largest collective effort to help address the developing world's environmental problems. It was launched with assurances that the program would not repeat the mistakes of past development efforts, which included duplication of effort; rip-offs by contractors, consultants and corrupt officials; and a tendency to promote the donor's priorities at the expense of the Third World's. Unfortunately, the forestry plan ended up repeating many of these failings...
...organizations also made the mistake of selling the program in different ways to the rich nations and the Third World. Although touted to environmentalists in the industrial nations as a plan to save the forests, T.F.A.P. was sold to the Third World as one more source of funding for traditional forestry projects. Little wonder that the plans tended to be short on ways to slow deforestation. Said a development expert: "For officials in the Third World, environmental aid has become a new form of cargo cult: Go through the motions of doing these assessments, and cargo will come...
Ever since elections in 1989 produced no clear parliamentary majority, the world's largest democracy has been vying for the title of most unmanageable. Last week India's third Prime Minister in two years, Chandrashekhar, resigned, annulling his minority government's four-month marriage of convenience with former Prime Minister Rajiv Gandhi's dominant Congress Party. Immediate cause of the downfall: accusations that Chandrashekhar allies set spies on Gandhi...
...discern Saddam's intentions, Saddam was worse at understanding the U.S. He knew little of America and drew many a false conclusion. U.S. Ambassador Glaspie told State Department colleagues how Saddam had marveled at some earthworks constructed in Iraq by Vietnamese workers. Saddam had been amazed that a Third World people could defeat a superpower and may have been emboldened by the thought. He seemed to repeatedly conclude from America's experience in the Vietnam War that the U.S. lacked will. "He thought he knew more about us than we knew about ourselves, and that was ultimately his most severe...