Word: billioned
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Dates: during 1960-1969
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...Poor Seventh. The crisis is reflected in the figures. Economic assistance rose steadily through the 1950s, but after 1967, when it reached a peak of $7 billion, it began receding. Last year the total dipped to $6.9 billion -while worldwide arms spending neared $150 billion. Japan, Australia and Switzerland have increased their contribution; Germany, Canada, The Netherlands and the Scandinavian countries plan to do so soon. But there have been cutbacks in Belgium, Italy, Britain-and the U.S. which still dispenses almost as much aid as all the other countries combined...
Congress has slashed foreign aid to the lowest level in two decades. With only $3.3 billion, or .38% of its gross national product devoted to aid, the U.S. ranks a poor seventh in effort, though it remains far in front in total flow of aid (see chart). Because businessmen are proving more venturesome than bureaucrats, the worldwide decline in aid has been more than offset by rising private investment. The trouble is that private capital goes mainly to countries rich in oil and minerals, where help is not urgently needed...
...agencies like the World Bank; only 10% flows through such bodies at present. Another Pearson recommendation is that countries increase their aid to seven-tenths of one percent of their gross national product in five years. In the U.S., that would mean an annual foreign aid outlay of $8 billion by 1975. Even if Nixon seconded that motion, which is virtually unthinkable, there is no chance that Congress would go along...
...long run, no matter whether CBS, RCA or another competitor comes to dominate the new field, few would dispute the projection of RCA Executive Chase Morsey Jr. that it could be a $1 billion industry by the 1980s. EVR, SV or whatever is, as he put it, the first "personalized television" in a period when "mass programming will no longer completely satisfy the customer." Morsey's implication was clear: SelectaVision could be the answer to Rejectavision...
Though the old slogan is being muted, things have been going better with Coke. Profits and sales have risen steadily to $110 million earned on $1.2 billion in revenues last year. True, the company could have been more nimble in shifting to meet new buying trends: its products account for an estimated 41% of the U.S. soft-drink market, but the company's Tab ranks only third in the market for diet colas. On the other hand, Coke has diversified quite successfully in recent years, notably with its big-selling Fresca. Now the company hopes to put still more...