Word: colombo
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...From the Colombo Plan (British-and Commonwealth-backed, though Burma as a matter of fact has quit the Commonwealth...
TRADE. Commonwealth membership is a good way to hold on to markets already achieved. Loans are easier to get in prosperous Britain (see BUSINESS) than in New York, for British bankers are familiar with the problems of such places as Accra and Lagos and Colombo. Tariff preferences and unity in the sterling bloc is another bond (but Canada is a dollar area); India, Pakistan, Malaya and Ghana all keep their balances in London vaults...
Dovetails. The "traffic of men and minds within the Commonwealth" covers nearly every activity, from Point Fourlike economic-development projects like the Colombo Plan to the training of Afro-Asian technicians in Canada and Australia for fighting disease in equatorial jungles. In the Korean war Commonwealth members fought together in a single division. A news correspondent may send messages between Commonwealth nations at a bargain 1 1/7?a word...
...University of Wisconsin-trained Soviet apologist, Gunawardena used his powerful position to force nationalization of Colombo's port and bus systems and collectivization of many of the island's fertile paddy fields. Now he was setting up an island-wide system of cooperatives frankly dedicated to his declared objective: "All private enterprise must totally disappear...
Economically better off than India, politically no more unstable than Indonesia, Ceylon moves imperfectly forward-but it does move. Said a Western observer to a TIME correspondent in Colombo last week: "It's utterly chaotic, and yet I'm less worried about Ceylon today than I was a year ago. If the Ceylonese have learned anything from the British, I guess it is the art of muddling through...