Word: setbacks
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North Korea was hit with a minor setback that had major implications today, as the International Atomic Energy Agency voted to suspend most assistance. Most notable is that China did not overtly oppose the move. Instead, Beijing's representatives abstained, perhaps sending a signal that China would take the same approach when sanctions against Pyongyang are considered by the U.N. in the coming days. In South Korea, the U.S. and Seoul continued to prepare for an all-out North Korean assault that might include a nuclear-weapons attack...
Next came Harvard's second setback, which was a miserable loss to Loyola in which a poor call by a referee gave Loyola a free possession at point-blank range, staring right at freshman goalie Kate Schutt. Final score: Loyola11, Harvard...
Fallows dismisses Tokyo's current economic downturn as nothing more than a temporary setback, similar to those that followed the huge boost in oil prices in 1972 and the rapid appreciation of the yen in 1985. Both times the Japanese economy came back leaner and, Fallows believes, meaner than ever. Now, he says, Japan and East Asia will present an overwhelming challenge to the U.S. Although the U.S. remains the world's largest (and still most productive) national economy, Fallows predicts that unless it adopts a more interventionist national economic policy and consumes less while saving more, it will...
Clinton's most conspicuous congressional setback included the probable loss of his chief House dealmaker on health care, Dan Rostenkowski. The Ways and Means Committee chairman spent the week deciding whether to plead guilty to a felony charge or face a criminal indictment on charges that he abused the perks of office. While Rostenkowski's lawyers maneuvered for a deal, it appeared likely that the Chicago pol would have to resign either way. House Democrats began discounting the blow to the health-care plan. "We hope Danny will be all right," said Representative John Dingell of Michigan. "But the House...
Impressionist and modern art auctions continued to disappoint. At Christie's and Sotheby's, artworks that were estimated to reap between $160 million and $215 million instead brought in $101 million -- a stunning setback for the already shaky art market. Although works by a few artists sold at higher-than- expected prices, the surprises were not enough to offset the embarrassments...