Word: traded
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Dates: during 1970-1979
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Unreasonable exchange rates, which now mean a cup of coffee costing $2 in Geneva or a hotel room $100 a night in Tokyo, increase the danger of protectionist trade wars as everyone runs to shield his market against low-priced U.S. competition. The Tokyo Round of trade talks, which has been dragging on for four years, is in danger largely because of the dollar. Finally, global inflation is being fired anew. Uncertain what the value of a product will be even a few weeks from now, both exporters and importers raise prices a little more to ensure against a possible...
Since the shocks of the early 1970s, the world's economies have lived in a period of tension and trauma. Oil price increases, world recession, rampant inflation, low growth and severe balance of trade problems have left leaders in the chancelleries and the counting houses doubting the present and fearing the future. But nothing has been worse in a period of crumbling foundations than the decline of the dollar, which is the talisman of an uncertain world. A first move toward a more secure economic future would be to re-establish the stability of the dollar inside a more...
John Paul's brother Edoardo, in Australia on a trade mission, reported that the Pope had been given a clean bill of health after a medical examination three weeks ago. He was frail in health as an infant and as a young priest, but there were no reports of heart trouble. Since taking office he had driven himself, and had expected Vatican officials to arrive at their desks promptly each morning. One veteran in the Curia, however, speculates on possible emotional strain: "It could have been something to do with passing from responsibility for a relatively small diocese...
...nowhere near as politically sexy as trying to knock down inflation or prop up the dollar, but Jimmy Carter has another tough economic imperative on his hands: dealing with the trade deficit. Until the late 1960s, the U.S. routinely piled up comfortable surpluses almost without trying. Since then, rapidly rising imports of oil and manufactured goods combined with the relative slackening of the sales of American products abroad have tipped the trade balance perilously out of kilter. In the past three years, the excess of what the U.S. bought over what it sold abroad rocketed to a total...
Herzog then brought in Hrabosky, "the Mad Hungarian," who had been the ace in the K.C. bullpen since being obtained from St. Louis at the start of the season in a trade for last year's Yankee victim, Mark Littell...