Word: cartelism
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Dates: during 1950-1959
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...British Empire, and it is logical to expect that in the British quest for dollar exchange they would try every means to better their competitive position in the U.S." In Washington, the Department of Justice said it would go right ahead with its trial to break up the alleged cartel...
...cartel-minded Britain, stolid, well-nosed Lord McGowan, 75-year-old chairman of the billion-dollar, globe-girdling Imperial Chemicals Industries, Ltd., has long been the staunchest champion of gentlemanly agreements which divide the world's markets. But this week. Lord McGowan reversed his field. Imperial Chemicals announced that it would invade the U.S. markets of its great & good friends, Wilmington's E. I. du Pont de Nemours...
...thing that may have caused Lord McGowan to change his mind was the U.S. Department of Justice's suit which is coming up for trial next month. The suit charged that I.C.I, and Du Pont were operating a world chemical cartel (TIME, Jan. 17, 1944). Lord McGowan had denounced the "iniquitous charges," but quietly terminated I.C.I.'s 24-year-old agreements to share "patents and processes" with Du Pont...
...barrels) quota provided they spent the additional dollars so earned in the sterling area. U.S. oilmen thought that too small a concession. To them, it still looked as if the British were trying to force the U.S. to make the world's oil market into one vast, noncompetitive cartel. If so, the only effective U.S. answer might ultimately be a global price war, waged to bring the British to terms...