NATION AND WORLD
University Daily Kansan, November 16, 1983
Page 13
Pacific storm spawns tornadoes in Alabama
By Staff and Wire Reports
A powerful storm front, after leaving a trail of wind, snow and rain on its path from the Pacific Ocean, yesterday brought tornadoes and violent winds that killed one in Alabama at least 19 in northern Alabama.
While much of the South enjoyed sunshine and temperatures in the 70s and 80s, clouds lingered yesterdays. It was a storm system centered over Ohio.
Mark Watson, a weather observer for the University of Kansas Weather Service, said that clear skies and highs in the mid-40s were expected for this afternoon. No rain is expected for the rest of the week.
Temperatures should climb into the 50s or 60s by Friday before another system brings clouds,
lower temperatures and a chance of rain for homecoming weekend.
A NEW OCEAN-BORN storm was already whipping the northern Pacific coast with gale-force winds up to 50 mph.
The earlier Pacific storm was three to four days old when it slammed into Alabama with a destructive cold front Monday night.
Two mountain passes were closed by snow in Washington's Cascade Mountains and the rain-glutted Elwah River was over its banks west of Port Angeles, Wash. Gale warnings went up along the Washington, Oregon and northern California coasts.
The front whipped up high winds that sent a tree crashing onto a mobile home in Cordova, Ala., killing Jessie Poe, 94. inside. Tenne people were injured when a tornado hit Culman, Ala.
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U.S. growth could help Third World debt
By United Press International
for developing countries, going into debt is not a spendthrift act but a normal and essential part of development. It permits investment greater than their domestic savings alone would allow.
This view emerged from a seminar for reporters on the debt problem held Sunday and Monday by the Institute of Politics at Harvard's John F. Kennedy School of Government The opinion is that these are among their leading international economists.
CAMBRIDGE, Mass. — How the United States runs its own economy in the next few years will determine whether the Third World debt problem can be resolved without a financial crisis, Harvard University economists say.
The thinking goes that economic growth of industrial nations is the key to solving the debt problem of developing countries, and that these countries' industrial national growth can be strongly affected by U.S. growth.
ALL THE ECONOMISTS agree that.
During the 1960s, Harvard professor and former State Department economist Richard Cooper told the seminar, most development lending came from governments and international bodies, and the problem then being discussed was how to get the private banks more involved.
This finally came about in the aftermath of the first OPEC oil-price increase of 1973. Oil-producing countries earned huge balance of payments surpluses, which they deposited in international banks. The banks lent the money out, much of it to the developing world.
DURING THE WORLD recession
the follower 1973 old price increase
in the US in the first quarter of
2015.
their debt to roughly $200 billion. Much of it went into productive investment, and this helped maintain their development.
Their continued growth, in turn,
provided markets for the exports of
industrial countries, and this cushioned
the recession worldwide.
Cooper said.
In the recession that followed the second oil price surge of 1979, developing countries increased their debt to roughly $600 billion. But this time, the world is seeking to control inflation, put on the monetary brakes much more sharply.
The recession became the longest and deepest since the 1930s. World interest rates rose. Developing countries found themselves with rising debts on their debt and falling earning, with which to make these payments.
MANY FACTORS WILL determine
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the outcome of the debt problem, according to these economists: congressional approval of increased U.S. financing for the International Monetary Fund, avoiding protectionism, economic reforms by developing countries themselves and willingness of private banks to continue lending.
But, as C. Fred Bergsten, director of the Institute for International Economics, described it to a group in Washington, since recession has caused two-thirds of the debt problem, most of it with the government "get the world economy going again."
William Cline, an economist at that institute, has calculated that 3 percent real economic growth over the next few years among the major industrial countries as a group is the critical threshold needed to enable debtor countries to earn enough in world trade to meet their payments.
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