Word: east-west
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...East-West trade already is clipping along at a $10 billion rate this year. Although more of the goods involved, from Renault and Fiat cars to a U.S. petroleum-cracking plant, are Eastbound, the Communists still stand to make money out of the deals. No Western bank is allowed a branch in Moscow, but the Russians already have banks in London, Paris and Beirut that earn attractive commissions by cutting red tape, handling paper work and removing the risk for Western exporters by discounting their bills in advance. Now, with trade on the increase, they have opened a new bank...
...Wozchod bank, financing exports from Switzerland, Italy, West Germany and Scandinavia, will thus parallel the activities of Russian banks already established in the West. The biggest of these is the Narodny Bank of London, established in 1911 and now the busy occupant of an eight-story building in London's City. The Narodny bank does 90% of its business in East-West trade transactions, discounts (at a fat commission) bills of sale of Western exporters who have shipped East; by doing so, it saves them a three-to six-month wait for money and makes trade with the East...
Manifest Destiny. By that time, both Chicago and Pittsburgh will have expanded until the edges of the three cities touch. Because of its key location on the St. Lawrence waterway and at the junction of East-West rail and motor routes, Detroit "is in the most advantageous location to act as the central urban area of this space." To be sure, Doxiadis added firmly, "Detroit's role is not the most important at present. It is an industrial center, but it does not provide services for a major urban area. It is not attractive as a center city...
Grasping Realities. At the East-West Center on the University of Hawaii's campus, the President noted that while the U.S. was once interested in Asia chiefly as a trade outlet, and had thus pursued the policy of "the open door," its policy today "must be the policy of an open mind." He added: "I am convinced that we have now reached a turning point in Asia's history, in Asia's relations with the U.S., in Asia's relations with the rest of the world." More and more, he said, Asia is "casting...
...Antonin Novotny was due to arrive early this week. The presence of so many Red leaders set off a flurry of speculation. Had they been called to prepare the groundwork for expulsion of Red China from the international Communist movement? Was it some sort of a summit session on East-West relations or nuclear arms control? Or had they been invited to witness the launching of a giant Russian spacecraft with five to nine cosmonauts aboard? That was the hottest rumor buzzing through Moscow...