Word: businessmen
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Dates: during 1950-1959
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...aggressive trade policies of their own government. To help foster West German exports, the Federal Republic sponsors an insurance organization called Hermes, which offers exporters a guarantee against default by their customers. Thanks to Hermes (which has so far committed $600 million to underwriting Mideastern deals alone), West German businessmen can often offer credit to customers whom other Western businessmen must pass up as bad risks. Sometimes the Bonn government steps in directly to help. West Germany is about to give the Greek government $150 million in loans and credits, in a deal which commits Greece to spend two-thirds...
Germany gains from never having had colonies in the Mideast and, by shunning long-term investments in the area, West German businessmen continue to avoid the dread label "imperialist." Fury over British policy in Cyprus helped wipe out Gfeek memories of the harsh World War II German occupation, has played a big part in the Greek choice of West Germany as its new economic mentor. In Arab countries, the Suez invasion gave German traders a big edge over the British and French. "And why not?" asks one West German businessman. "We have clean hands...
Where the West German businessmen must generally charge 8% interest on credits, the Communists frequently charge as little as 2½%. This is not philanthropy: in every such bargain there is a concealed political string. To pay for Communist arms and aid, Egypt's Nasser has mortgaged much of his cotton crop for years ahead. By reselling this cotton at cut prices to Western textile manufacturers (including West Germans), the Communists have driven Egyptian cotton exporters out of much of the European market, have thus deprived Egypt of a major source of foreign exchange and reduced her ability...
...private plane between Chicago and Milwaukee, a Chicago businessman took a business call from a customer in Buenos Aires, joining thousands of fast-moving businessmen who have had phones installed in autos, boats, even duck blinds...
...though he speaks like a native New Yorker. His story is that he went to the Philippines in 1938 by way of China, managed to escape a World War II Japanese concentration camp. The war over, Guterma flowered as a trader, also obtained a bankroll from Philippine and Italian businessmen, which he brought to Florida in 1950 to start a project growing flaxlike ramie fiber. He then moved to Manhattan and with a partner opened McGrath Securities, a firm that often floated stock in his new companies...