Word: island
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Dates: during 1970-1979
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Today Contadora is Panama's star resort, with a government-owned casino and 210-room hotel (average room price: $70 a day). About 80 weekend homes owned mostly by wealthy Panamanians dot the beaches and hills. Palm, papaya and banana trees shade the island, and peacocks and deer roam freely. Temperatures climb to a torrid 95° during the day, but drop to a breezy 70° in the evening. The resort is just now entering its busy season, with the hotel booked solid through April. And, understandably, the tourists worry about the island's most famous guest...
...security staff of eight has already been beefed up by at least 50 members of Panama's guardia. So far, the Shah has ventured out rarely, but when he goes out for the simplest of reasons, so goes the entourage: when he walked his Great Dane on the island's main beach last week, ten security men walked with hun and a red sedan filled with more guards drove behind. It is a measure of the Shah's exile that in those circumstances any place can feel like home...
...searching for solutions, Americans could no longer put their faith in those two old reliables, technology and economic theory. The failings of technology were exposed by the radioactive clouds rising from Three Mile Island, the flames spitting from the DC-10 that lost an engine over Chicago, the poisons seeping into the Love Canal. The frustrations of economic theory were revealed by the inability of the disciples of John Maynard Keynes, the British economist whose market-manipulating philosophies have dominated policymaking since the 1950s and 1960s, to deal with the stagflation realities of laggard growth, runaway prices and receding productivity...
...like a ghost in the midst of Taipei's swirling traffic. The heavy wooden doors, surmounted by iron spikes, are sealed shut. Shards of broken glass protrude from the high, surrounding wall. The pole inside the compound that flew the U.S. flag for 63 years (first when the island was under Japanese domination, later under the Republic of China), with only wartime interruptions, does so no longer. Now a set of rough, unpainted boards nailed across the brass plaque on the gate obscures its legend: EMBASSY OF THE UNITED STATES OF AMERICA...
...trading partner. By contrast, two-way trade between the People's Republic of China and the U.S. this year will amount to $1.8 billion. Washington has quietly but systematically encouraged the bilateral trade boom. Among major recent deals: the Export-Import Bank, which sent a delegation to the island this fall, extended $500 million worth of loans during 1979. Since January, American banks have also contributed to a $200 million loan to the Taiwan Power Co. General Electric has joined with Taiwan companies on a $30 million turbine-generators project. Said Robert P. Parker, president of the American Chamber...