Word: eca
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...establish military bases on Formosa at this time* . . . [it] will not pursue a course which will lead to involvement in the civil conflict in China [and] will not provide military aid or advice to Chinese forces on Formosa." But, concluded the President, the U.S. will "continue the present ECA program of economic assistance," of which $100 million is yet unspent...
...double back on his own statement of seven days before that it would be "wise" to defend Formosa. Republican Floor Leader Kenneth Wherry, the party's on-tap isolationist spokesman, said that Britain's recognition of Red Peking afforded "even more compelling reasons for cutting this [ECA] spending to support British socialism...
...houses went up amid the rubble. Of Greece's 700,000 refugees, 500,000 have returned to their old homes, with a $35 government bonus in their pockets, free bread rations, and (if they were lucky) a "Baby Truman"-as the peasants call the large, frisky mules which ECA has brought from...
...country's administration is flabby and corrupt; despite ECAid, its economy is semi-paralyzed by public distrust. Recently, when a Greek businessman sought ECA backing for a gold-mining project in Macedonia, an ECA official snapped: "The best place to dig for gold in Greece is in people's mattresses." The imprint of war still remains heavy on the land-and even on the language. A Greek washerwoman, bent over her heaped sink, will say: "Polemo tin bougada" (I am making war on the laundry). A truck driver sprawling underneath his truck will say: "Polemo tin mechani...
...that EGA would somehow close the huge gap between imports and exports had gone glimmering in 1949. At year's end, the U.S. had sold an estimated $12.5 billion abroad and had imported only about $6.5 billion; the gap was almost as big as it had been at ECA's start. Even the desperate remedy of devaluation by foreign nations had not helped them to compete in the U.S. market...