Word: backs
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Dates: during 1950-1959
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Reconciliation. No longer do Americans in India find themselves subjected to the special brand of Indian inquisition that used to feature a series of needling questions: Why does the U.S. back dictators like Chiang Kai-shek and Franco? Why does the U.S. arm Pakistan, India's obvious enemy? Why are Negroes oppressed in the South? Last month, when quietly competent U.S. Ambassador Ellsworth Bunker addressed the first session of the newly formed Indo-American Society in rambunctious, left-wing Calcutta (where Eisenhower was burned in effigy in 1956), he was astonished to find that it had already a thousand...
...timeless, bottomless morass of India. Food production is still at the mercy of the nation's cycles of flood and drought. Huge, multipurpose economic projects start out magnificently and then gradually fall farther and farther behind schedule. The second five-year plan had to be abruptly cut back because it was creating a profitless drain on foreign exchange. "We are riding the tiger of industrialization and can't get off," said Finance Minister T. T. Krishnamachari. Severe restrictions on imports, and new taxes on wealth and expenditures wrung outraged cries from the business community. There were strikes...
...against the ingrained Indian habits of inefficiency, tardiness and cheerful anarchy. He stormed at the prevalence of holidays, cows and fraudulent holy men, yet did nothing about them. He pleaded with his colleagues in the governing Congress Party to abandon red tape, corruption and nepotism; they listened, and went back to their old ways...
Making her way back to their Pigalle apartment, Lydia was soon joined by her father, who had also survived German internment (her mother had been shot by the retreating Nazis on their last day in Warsaw). In Paris, father and daughter picked up the pieces of their old life. Lydia enrolled in a dancing school in 1948, two years later was among the few chosen from hundreds of applicants for the Folies chorus, has been there ever since. Says Lydia: "It's not the Warsaw Opera Ballet, but I love it." Asked where she would pin her Legion ribbon...
...also means taking on headaches. Biggest is the expectation of high returns by local investors. In an area where investment firms guarantee 8% and manufacturing profits sometimes top 50%, investors are loath to accept less, and dislike U.S.-type management, which believes in building up large reserves, plowing profits back into expansion. Nevertheless, the investors seem to be swinging around to the U.S. concept. In Brazil, where U.S. owners in 1945 held 95% of the stock in 67 companies, today they hold 95% in only 17 companies, as local capital moves in to fill...