Word: ali
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Dates: during 1950-1959
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With these words, Pakistan's vigorous young (45) Premier Mohammed Ali last week announced a new policy to lure U.S. money to his struggling young (7) country. To an audience of U.S. businessmen in Manhattan, Ali sounded a dramatic new note from Asia, whose newly independent governments, still resentful of colonialism's old wrongs and jealous of their new independence, have made things tough for Western investors. Most have heavily taxed foreign businesses, limited their profits, refused to let even those profits out of the country, and demanded majority control of companies built wholly by foreign money. Western...
Fields of Jute. Mohammed Ali was candid. The 1947 partition which created the Moslem state of Pakistan left it an agricultural country. It had vast fields of jute but not a single mill to convert it to burlap. To balance the economy, Pakistan needed industries. Some, the government has built itself. But "the best method of industrialization is through the investment of private venture capital," said Ali. Voicing the creed of a convinced free enterpriser, he declared: "It was the adventurous risk capital of the 19th century that built the fortress of industrial strength the U.S. enjoys today...
...rich Bengal landowner, Ali served as an envoy abroad from the time of Pakistan's creation until last year. On a brief trip home, to his surprise, he was chosen Prime Minister-partly because he had not been entangled in politics during his six-year absence. He shook hands with hungry Pakistanis on Karachi's streets, earnestly said: "I am one of you, and I will do all my best...
Pakistan, which was near turmoil when he took over, has become a stable U.S. ally. Ali is cheerfully confident of solving Pakistan's almost insoluble problems: shortages of food, money, industry and skills...
...Mohammed Ali developed his unabashed crush on America while serving as his country's ambassador (1952-53). He picked up U.S. slang, went often to watch the Washington Senators, took to bowling with his embassy staff. He drove around most of the 48 states with his pretty wife and two teen-age sons, collecting American gadgets, idiom and ideas...