Word: third world
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Bush asks Congress to write off Egypt's $7-billion debt in appreciation for help in the gulf. Iraq offers free oil to Third World countries. Iraqi soldiers move into French diplomatic compound in Kuwait. Iraq opens Kuwait's borders, and thousands of Kuwaitis attempts to flee...
...companies found they could raise funds more cheaply by borrowing in money markets, rather than turning to banks. And depositors could get higher returns and adequate safety by putting their savings into money-market funds instead of passbook accounts. The defections left banks to chase riskier business, such as Third World lending or leveraged buyouts, to keep their profits up. "Banks just can't compete with other providers of services that they have traditionally offered," says Gary Gorton, a finance professor at the Wharton School. "So banks have had what is left over...
Washington did not finally cut off aid until 1989, when Siad Barre's massacres of rival clans became too blatant to ignore, but the level of its contributions had been sinking steadily. Now that the cold war is over, Third World conflicts no longer figure as potential victories or losses for the U.S. or the Soviet Union, ironically making the world safer for brush-fire wars and insurrections...
...says, noting that great bookstores , continue to proliferate in Europe. Rather than regarding Americans as cultural imperialists, she observes wryly, "many Europeans have an almost colonialist attitude toward us. We provide them with wonderful distractions, the feeling of diversion. Perhaps Europeans will eventually view us as a wonderfully advanced Third World country with a lot of rhythm -- a kind of pleasure country, so cheap with the dollar down and all that singing and dancing...
After more than a decade of anticipation, Francis Ford Coppola's third installment of the Godfather film saga opens on Christmas Day. The hiatus between episodes was longer than the duration of both World Wars. But other megaprojects are marinating out there at their own dilatory pace. Examples...