Word: c
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Dates: during 1950-1959
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Another reason: the U.S. found in Deputy Under Secretary of State C. Douglas Dillon, onetime Wall Street investment banker, a foreign aid field commander with the tactical skill needed-and deployed-to prevail upon Congress to pass 1958's $3.3 billion foreign aid appropriation. As much as it dramatized Communism's infiltration of strategic, oil-rich Venezuela, the mobbing of Vice President Nixon in Caracas (TIME, May 26) underlined the urgent need for U.S. help for orderly economic growth in the hemisphere. Needed in Latin America, Asia and Africa alike was a new climate of incentive plans...
...C. GREB Mexico City...
...responded by spending $10 billion on research and development in the hope of creating a benign circle of economic activity: the exciting demand for new products creates employment, which in turn results in more money for more workers to buy still more goods. "The more we get," says Curtis C. Rogers of the Market Research Corp. of America, "the more we are willing to work to get still more...
...Steel will average 79% of capacity in 1959, says Jones & Laughlin's President Avery C. Adams. He figures a steady rise to 91% of capacity in the second quarter, total production of 115 million tons, "and J. & L. will do better than these rates...
...such a rate that there was talk of a flight from the dollar. While exaggerated, the talk underlined the fact that foreign companies are engaged in a vast modernization program, which, with lower labor costs, will give them a double advantage on world markets. Warns Alfred C. Neal, president of the Committee for Economic Development: "For the past 30 years, the U.S. has been blessed in that we never had to worry about our balance of payments. But if this keeps up, we may lose important foreign markets which we vitally need...