Word: third world
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...faces. America's giant twin deficits, in trade and the federal budget, are improving slowly but remain daunting. Their persistence could help send the dollar plunging again and pressure the Fed to bolster the currency with higher interest rates. Inflation has returned as a potential threat, while the Third World debt dilemma refuses to go away. America's aging economic expansion, now in its 56th month, is entering a precarious stage, increasing the odds that a recession could strike...
...developed many colorful customs and expressions. For instance, a peasant with only one lapta in hand but with two cossacks bearing down on him was said to be facing a "fielder's choice." Third base has been known as the "hot corner" since the Minsk-Pinsk World Series of 1937, when a Pinsk third-base coach, who happened to double as a political-education instructor, peppered the Minsk third baseman with probing theoretical questions. Tragically, this led to the only fatality in big-time lapta. During the seventh game of the series, after uttering the ill-advised suggestion "Stick...
...Arms Limitation Talks and detente under Brezhnev. But Khrushchev's thaw turned out to be more rhetoric than reality. He crushed the Hungarian rebellion, built the Berlin Wall, deployed Soviet missiles in Cuba, directed Moscow's missile buildup and pushed a strategy of fostering pro-Soviet revolutions in the Third World...
...Third World. New military agreements, as important as they are, would not be a true test of whether Gorbachev's words signify a real transformation of the cold war. That would require a tangible change in the Soviet Union's expansionist use of force, especially in the Third World. University of Michigan Professor Matthew Evangelista writes in the Nation magazine that in the new edition of the Communist Party program, "Soviet support for national liberation movements has changed from promises of economic and military assistance to expressions of 'profound sympathy...
...Soviets have, in fact, seemed somewhat cautious about the military support they now provide Nicaragua. But so far Moscow has been unwilling to abandon the Sandinistas or other Third World clients, claiming that U.S. aid to anti-Marxist forces prevents peaceful settlement of local conflicts. As Oliver North argued in his testimony last week, Cuban troops, serving as the Soviet "mercenary army," are stationed in Nicaragua, Angola, Mozambique, Ethiopia and South Yemen. Testing the Soviets' true intentions will be tricky; the manipulation of Third World proxies is not an issue that lends itself to formal negotiations. Assistant Secretary Ridgway...