Word: bartering
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Dates: during 1960-1969
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G.I.s learned about Meissen when it was a major barter item on the German black market immediately after the war and transmitted a taste for it (as well as whole cases of it) to their families back home. Recently sales of new Meissen to the U.S. and other Western countries have slackened. Hemmed in by Communist artistic canons, the company has failed to turn out successful modern designs, instead relies on old patterns which contemporary Westerners find too rococo...
...called "conservative targets." The outlook: 4,000,000 tons or less, which, with last year's carryover, will bring Cuba only $336 million, or a bare 53% of sugar earnings in pre-Castro 1957. Even that sum will not be in hard cash, but in high-priced barter goods from the Soviet bloc, which has replaced the U.S. as Cuba's major trading partner...
...SUPPLEMENTAL STOCKPILE. Launched by Congress in 1954, this houses imported materials that the U.S. gets by swapping off its farm surpluses. Value (together with a separate Commodity Credit Corporation pile of materials acquired by barter): $1 billion...
...balance of payments. One-third of all U.S. trade is with Western Europe, and the six-nation Common Market's policy of holding high tariff walls against outside nations while lowering the barriers among themselves is sure to cut heavily into the U.S. trade surplus. In order to barter for the lowering of those walls-and to increase U.S. trade with other nations-Kennedy wants to give foreign imports a better break...
...stuck-up, Nehru too preachy. But he likes Toure as "a natural man" (and a Moslem who calls himself Ahmad when in Cairo), and last week Toure came away from Cairo with a $16.8 million loan, repayable in seven years at 2½% interest, plus a $5,600,000 barter trade agreement...