Word: bartering
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...spite of vigorous denials, I understand that serious consideration has been given to the idea that the United States might barter the withdrawal of American troops from Germany against a Russian withdrawal from the satellite countries. Both the Western and Russian policies of the last few years have run their course. Both sides, it is felt here, are groping for new approaches...
...wait for hours in long queues to buy cheap but scarce government-subsidized commodities that they resell at high prices, turning a profit greater than an average day's wage of a worker. Perhaps half of the relief food given Bolivia by the U.S. fetches up as barter for hard currencies in neighboring countries...
...Anybody who goes for barter deals is out of his mind," said Burma's ex-Premier U Nu-and he should know. Burma's Rangoon docks were still overflowing with the bartered Iron Curtain cement it could not use (TIME, May 21). Originally Burma thought that it had at least got a good price for its surplus rice-only to find that the Soviet Union was upping the prices of the goods it sent in exchange. All this was demoralizing enough. Last week Burma came face to face with another unsettling discovery: it really had no surplus rice...
Burma's rice crop turns out to be smaller and the country's potential market bigger than it had calculated. Already losing 10% to 30% of the value of the bartered rice, Burma decided to lower slightly the prices on the rest of the crop. It found itself besieged by cash customers: India, Indonesia, Pakistan, Malaya. Now Burma faces a frustrating problem: there is not enough exportable rice to supply cash customers and at the same time fulfill barter obligations (600,000 tons a year) to the Iron Curtain countries. Burma has already mortgaged some...
From the copper mines of Sikkim to the oilfields of Assam, Russian traders and technicians traipsed through India last week, offering cut-rate rubles, big-brotherly advice and back-scratching barter deals. Czech engineers mapped roads in the mountainous north. East German technicians scouted sites for India's first raw film factory. In central Bhilai, Russian specialists supervised construction of a steel mill for which Russian moneymen had advanced some $100 million at 2½%, about half the interest rate proposed by Western lenders...