Word: blocs
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Dates: during 1950-1959
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Know Your Weapon. Meany quoted a statement by General Motors President Harlow Curtice (in the current Look): "I no longer see any reason why sales of cars and other peacetime products to the Soviet bloc cannot be increased as long as such sales fit in with U.S. State Department policies." Said Meany: "Doesn't Mr. Curtice realize that to the Iron Curtain rulers, to the Communist warlords, foreign trade is not so much an economic undertaking, as we know it in the free world, but rather a political weapon to be used against...
There seems no reason to doubt that both Mister Nasser and his constitution suit Egyptians fine as of now. His coups in playing off both West and East have fed his country's hungry pride. The new constitution backs his latest bid for Arab-bloc leadership by proclaiming Egypt "an integral part of the Arab nation," which ethnically it is not. It also declares that "Islam is the religion of the State," but gives no say to the Ulema (see above) as to how the country shall...
...Britain's booming industries rose by more than 8%, imports soared by 15%. Britain's dollar-and-gold reserves were drained by nearly one quarter to just over $2 billion. One result: West Germany, for the first time in its short history, edged ahead of the sterling bloc as the biggest foreign holder of dollar-and-gold reserves...
...government will give frank preference to European companies over the dug-in U.S. firms, which now number 13 of the 14 operators in Venezuela. The presumed reason: Venezuela has become fearful of its dependence on the U.S. market, always open to pressure from the well-oiled tariff bloc in Congress, and wants to get a cut of the European market as a hedge. Preference or no preference, huge Creole Petroleum Corp., a Standard Oil Co. (N.J.) affiliate, announced a $200 million expansion program, and prepared to bid for new concessions...
Orangeade and Opium. The first subject Norodom took up with his people last week was foreign policy. Cambodia, he said, would join Nehru's neutralist bloc, and at the same time it would accept U.S. military aid to equip an army of 40,000. If this seemed a little contradictory, Norodom added without batting an eyelid: "With this aid we will maintain a strong army even if America and Russia shake hands tomorrow." His public murmured assent at their Premier's wisdom...