Word: entrepot
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Nowhere did the chaos of Black Monday strike harder than in the tiny Asian entrepot. When the Hang Seng index dived 11% within hours on that day, the Hong Kong Stock Exchange simply vaporized, and Exchange Chairman Ronald Li closed it down for four days. When trading reopened last Monday, the value of shares plummeted an additional 33%, to about $50 billion, wiping out a year's gains. "This is not a stock market," said a furious Hong Kong local moneyman. "This is a poorly run casino...
Under pressure from Washington, non-Communist shipments to Red China are dwindling. Example: in 1951, Malaya sent the Reds $32 million worth of natural rubber; last year, it sent practically none. Even Hong Kong's busy entrepot trade is quietly stagnating: monthly exports to the mainland dropped from $22.8 million in 1951 to $8.2 million last year...
...last number contains a synopsis of the libretto of "Tannhuser," which at Hanover is spelt with only one n; an account of a palace-car journey from Boston to St. Paul's, Minnesota, in which we learn that Buffalo is "a place of great commercial interest and a great entrepot for the grain of the West"; an abstract of the Eastern Question; and an article on "Reading and Observation"; the whole capped off by a very short editorial (on Class-Day Parts) and a few items. A college paper is meant for the college in which it is published...