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This result does not suggest that moderately tighter monetary policy would have dissuaded many potential ARM borrowers.
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Last Thursday, Chinese officials denounced any potential arms sales.
Mr. Smulian was asked to convey a potential arms deal to Mr. Bout.
But when the United States refused to help, for fear of encouraging a potential arms race in the region, South Korea turned to Russia.
President Bush today moved to defuse a potential arms race in Asia by offering Beijing talks to blunt the impact of America's withdrawal from the 1972 Antiballistic Missile treaty, while Russia signaled grudging acceptance of Washington's shift.
GOI interlocutors continued to press for the opportunity to review the QME report prior to its submission to Congress, and presented an official response to a U.S. non-paper on potential arms transfers to Arab countries.
Hugh Griffiths, who wrote the report with Mr. Wilkinson, said that law enforcement agents did not have the mechanisms in place to track potential arms smugglers, and that they failed to communicate properly with one another.
A19 U.S. Offers Talks With China President Bush moved to defuse a potential arms race in Asia by offering Beijing talks to blunt the impact of America's withdrawal from the 1972 Antiballistic Missile Treaty.
But a decision by Brazil to award the contract to the French would clearly give Chile and other potential arms shoppers in Latin America a means to pressure the United States to furnish them with more advanced equipment.
Still, Mr. Davidenko conceded that Russia had lost billions of dollars in potential arms business as a result of sanctions against Iran and the change of power in Libya.
Speaking to a partner, Bout points to the need to launder money for potential arms clients through banks in Russia, Belarus or Venezuela, fearful that an American dollar account could set off alarms.
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