Word: eca
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...students and scholars in the U.S., the Institute of International Education produced a powerful rebuttal to the Communist charge made in Geneva in May of 1954 that the U.S. is "forcibly retaining'' many students contrary to "the principles of international law and humanitarianism." In addition to regular ECA funds, said the report, the State Department has spent more than $8,000,000 helping more than 3,600 students and scholars cut off from funds from Red China. Of the 1,300 Chinese who have left this country, about 930 received at least part of their travel expenses from...
...Secretary of Commerce for international affairs to become president of the American Watch Association, representing U.S. importers of Swiss movements. An investment banker and industrial planner, Anderson joined WPB in 1941, supervised the huge expansion of U.S. aluminum and magnesium industries. He returned to Washington in 1948 to become ECA's industrial director, later headed the World Bank's Latin American division. As assistant commerce secretary, Anderson supported President Eisenhower's tariff raise for Swiss watches last year. As watch association president, he will try to turn back the tariff clock...
...Export of Principles. The decade of handouts-UNRRA, ECA, FOA-is ending, not because Uncle Sam has reverted to Uncle Shylock but because handouts are no longer pertinent to the world's need. The need now is for installing around the world the mainsprings-not merely the products-of U.S. prosperity. These mainsprings are mostly principles: reasonably stable money, reasonably free play of the price mechanism, unrestricted movement of money, goods and labor within a competitive market large enough to support and encourage mass production. If other countries absorbed these principles, their economic progress might begin to match that...
Cornigliano is a study in superlatives: Italy's biggest single postwar industrial construction, its biggest steel plant, its biggest ECA project. Three years and 44 million man-hours went into building Cornigliano; just to create its 250-acre site near Genoa, a million cubic yards of rubble fill were dumped into the Ligurian Sea. Cornigliano was to vitalize Italy's struggling steel industry, help cut its production costs 40% and raise its output 75%. The goal: to make Italian steel competitive for just about the first time since the Etruscans pounded out iron for the Greek trade...
...accept his ECA associations uncritically. He has denounced Europe's capitalists as "cartel-ridden," attacked Point Four as "a Mad Hatter's race" ("Our billions will be wasted for lack of an existing entrepreneurial class in the backward countries"). He looks askance at Europe's Schuman Plan for pooling steel resources, considers it an incentive to "socialism...