The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
Through the workings of a multitude of causes-external and internal, spiritual and material-Israel has survived, not without unease, for a considerable time. Problems abound in all spheres: Israel's position in the Middle East, its economic survival and the coexistence of the various discordant components of Israeli society. Yet, strange as it may seem, no effective force in Israel today feels the urgent need for radical change in policy or direction. On the contrary, one can sense a widespread suspicion that any change would be a change for the worse.
We have just passed the eleventh parliamentary election in our 36-year history. The inconclusive war in Lebanon has taken a heavy toll on Israel. Hundreds of soldiers were killed and thousands became invalids. The financial burden of the war is one of the important causes of the government deficit and the continuing rise of Israel's foreign debt, which has more than