Word: cutbacks
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...world of Communism stirred under the wind of change. Every day the world saw some new Soviet gesture. The most dramatic last week was Russia's announcement of a sizable cutback in its armed forces. Added to that, hardly a day passed without some new witticism from Nikita Khrushchev, some new revision of history, some political prisoner rehabilitated, some old scoundrel exposed. Every gesture may yet prove a fraud, or the Kremlin's masters-finding that small concessions lead to wider demands-may try to take it all back and revert to proved severities...
...rescued by development of a disease-resistant variety, and exports have doubled in the past eight years. During and after the war, Jamaica expanded its sugar planting and built up a $21 million-a-year British market (and a current surplus that may soon force a compulsory cutback). Rice, a staple food that had always been imported, was grown locally under government direction, and production was boosted to the point where Jamaica is now nearly self-sufficient. In trying to encourage manufacturing, the government granted special inducements to foreign capital to build local factories. Island plants now employ some...
...IMPORT POLICY will do an about-face. After ordering a 7% cutback in imports last year to bolster domestic industry, the Office of Defense Mobilization plans to boost imports 10% for residual fuel oil, mostly from Venezuela. Reason: an unexpected drain on oil stocks because of the cold winter and increased use of oil by industry...
Would the auto cutback hurt steel...
...through a companywide, time-study program aimed at increasing production efficiency and regaining the company's competitive position (its profits fell 30% in the first nine months of 1955). The union fears that such a study will result in a loss of jobs (there has been a 25% cutback in jobs at one plant since 1951). It has asked for "satisfactory ground rules" to control the studies but hard-pressed Westinghouse refused on the ground that it had to have a free hand to manage as it saw fit. In essence, both sides are fighting over security...