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Indeed, America's current-account position strengthened despite the dollar's appreciation in the face of safe-haven demand.
Simply restricting the practice of land clearing probably would not work, since farm families and communities would face a strong temptation to evade legal limits.
The aim must be not only to win back the hearts of Europeans who have become skeptical, but also to convince them that the Union is indispensable to meeting the challenges Europeans face.
Serbia would save face, and would continue to have a say on crucial matters concerning Kosovo, including the treatment of the Serbian minority.
So, instead of retiring gracefully, as presidents from Bill Clinton to Boris Yeltsin routinely do, Kuchma wants to change the constitution in order to become an all-powerful prime minister who will never face a limit on the length of his term.
Moreover, major advanced economies, such as the United States, Germany, and Japan, face longer-term fiscal problems in the form of aging populations or oversize welfare states, limiting their capacity to contribute to demand management.
Their agenda is more pressing, and their problems, frankly, far more serious than ours, which makes it much more urgent for them to develop theories appropriate to the challenges they face.
This flies in the face of conventional thinking, which continues to claim that mandating carbon reductions - through cap-and-trade or a carbon tax - is the only way to combat climate change.
Indeed, economies and markets no longer face liquidity problems, but rather credit and insolvency crises.
Agricultural regions already need to become more resilient in the face of increased climate volatility.
Today, we need universities in all parts of the world to help their societies face the challenges of poverty reduction, clean energy, sustainable food supplies, and the rest.
Awareness, boldness, and comprehensive policymaking have come as a relief to French investors, and have left them better positioned to face the crisis.
The al-Saud face two threats: one from violent Islamists, and the other from liberal reformers.
Yet it is on this bottom board that we find most of the greatest challenges we face today.
Europe's citizens understand that the relatively small nation-states that make up the EU are no longer able to face these enormous challenges on their own.
The primary, and most pressing, of the problems we face is the financial and economic crisis that is enveloping the EU.
The second key challenge that we will face during our European presidency is that of Russia.
Until Afghanistan's leaders begin to address this problem seriously, our country will continue to bear the scar of violence against women on its face.
Sub-Saharan African Muslims are less assertive, and they face considerably more difficulties in their attempts to articulate their rights and establish their presence in their respective states and regions.
In the face of these undeniable facts, the path chosen by the IMF and the World Bank was, at best, a mark of their incompetence and, at worst, a deliberate ploy to keep the sub-Saharan countries and their populations in bondage.
Even government deficit spending - long the bane of Africa - seems positively puny compared to the massive debts that the US and some European countries face.
Moreover, absentee farmers face unexpected problems.
Unlike prices for coal, which is abundant and dispersed geographically, gas prices are subject to significant volatility, and the long-term trend in the face of fossil fuel depletion is uncertain.
A total of almost 1.5 million young soldiers from both North and South Korea face off against each across the heavily armed Demilitarized Zone.
Such violence is unjust on its face because it suppresses and intimidates both body and spirit.
This increasingly complex web of intersecting national interests is the face of international diplomacy in the twenty-first century.