Word: backwardation
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Anxious to prove a good host, Saigon had gone all out to make an impression on the delegates to the annual meeting of the 21-nation Colombo Plan, the British-fostered scheme designed to help the backward nations of Southeast Asia. New paint gleamed everywhere. Old buildings and the sidewalks before them were scrubbed as clean as any in Amsterdam. Mayor Nguyen Phu Hai had sternly forbidden his citizens to spit in public or walk even partially naked in the streets. Energetic President Ngo Dinh Diem's capital had come a long way from the fear and misery...
There are few more backward nations in the world than the 91,400-sq-mi. kingdom of Laos. Population figures in Laos are almost anybody's guess (estimates run from 1,400,000 to 2,500,000), and some Laotians are jungle-dwelling, G-string-clad tribesmen whose chief armaments are bows and arrows. The nation's main export is opium. Laos receives the largest per capita allotment of U.S. aid of all nations in the world (some $43 million for fiscal 1957), but because its economy is so primitive, Laos has practically no trained personnel to administer...
Kennedy charged that the State Department was not putting sufficient emphasis on economic aid to the underdeveloped countries. He cited the fact that only ten per cent of $4 billion dollars spent abroad last year could be cited as "venture capital in economically backward areas...
...Tokyo's Taizo Ishizaka, president of the Japanese Federation of Economic Organizations and president of the Tokyo Shibaura Electric Co., suggested an international agency to exchange technical know-how and services, thus promote industrial development and combat anti-foreignism in backward countries. In much of the world, said Ishizaka, there is still a blind prejudice that "capitalism leads to imperialism" and alien rule...
Because the Catalan churches lay in a backward area, they remained almost unchanged through the centuries, were not rebuilt in later styles. In recent decades most of the frescoes and painted wood altar fronts have been moved into museums at Vich and Barcelona to stop further deterioration and to permit careful studies by art scholars. The best that is left of this all but forgotten chapter from the past has now been reproduced in oversized format (18 in. by 13 in.) in Spain, Romanesque Paintings, published by the New York Graphic Society ($16.50) as part of the UNESCO World...