Word: diverting
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Dates: during 1970-1979
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Industrial nations with faltering economies-especially Britain and Italy -and all the developing countries would be much harder hit. To pay their oil bills, they might well have to divert money from productive investments, thus increasing inflationary pressures and hurting their efforts to reduce unemployment. The psychological shock could be serious too. Says Economist Paul H. Frankel of London's Petroleum Economics Ltd.: "It is not at all certain that the world recovery is fully established. If the global economy is beginning to move down instead of up, OPEC'S price rise could be a critical factor aggravating...
...Japan, West Germany, France and Britain-opposed the fund proposal. Instead, they offered to negotiate commodity agreements on a case-by-case basis, then to discuss stockpile financing plans at a later date. In the absence of agreements on individual commodities, they argued, the Common Fund would needlessly divert development money from worthy projects. But the Group of 77 refused to budge. "We have been trying the com-modity-by-commodity approach for so many years," complained Widjojo Nitisastro, Indonesia's Minister of State for Economic, Financial and Industrial Affairs. "We must have the Common Fund as a catalyst...
...also has sinister ideological and political overtones. By branding the universities "producers of unemployment," the Giscard government is attempting to transfer the responsibility for unemployment onto the unemployed themselves. As a result of the current recession, France is suffering its highest unemployment rates since World War II. To divert public attention from the roots of this unemployment in France's social and economic system, the Giscard government has blamed the educational training of French students for their unemployment. The educational reform should thus be seen as a maneuver by the Giscard government to defend its economic policies against criticism from...
Tezo said he hopes to divert most of the Memorial Drive traffic to Soldiers Field Drive on the Allston side of the Charles River by utilizing detour signs...
...Dick, 50, was said to be troubled by Liz's reported outings recently in Switzerland, on the arm of a Maltese advertising executive. So, after a quick reunion with her husband, Liz abruptly packed off to California. Said a friend of the couple: "The only thing that could divert a divorce would be another reconciliation." All right now, once more with feeling...