Word: europeanization
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Dates: during 1950-1959
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...Advantage of Bigness. In greater or lesser degree, most of the nations ot Western Europe have faced the same economic dilemma as Britain, and for years farsighted Europeans (and Americans) have been arguing that the answer lies in a common West European market. A common market would allow each of the member nations to specialize in the goods that it produces best. If tariffs were abolished, for example. Britain's camera manufacturers might well be swept away in a flood ot superior German-made Leicas and Rollei-flexes (now subject in Britain to 50% ad valorem duty...
...world. A combination of German camera manufacturers and British film makers might produce a colossus rivaling Eastman Kodak. This would not only make for better yet cheaper products and vastly expanded trade, but would help solve one of Europe's fundamental social and economic problems. In most European nations today, increases in real wages are blocked by the fear that they might make exports more expensive and less competitive. In a common European market there would be the same strong incentive to keep raising wages that exists in the U.S. -recognition that each wage increase stimulates new demand...
Thorny Choice. Last year the six nations that make up the European Coal and Steel Community (Germany, France, Italy and the Benelux countries) decided it was time to make the common market more than a dream. At a meeting in Messina, Sicily their economic experts drew up plans for a customs union that, from the trade point of view, would convert the six into a single "country" with no internal tariffs and common external tariffs. Since creation of such a union would have a drastic effect on the economy of other European powers, the 17-nation Organization for European Economic...
...Britain was faced with the outline of a thorny choice. If a European customs union actually came into existence and Britain stood aloof, there was every likelihood that the tariff wall thrown up by the new group would bar many British exports from European markets. (One-eighth of British exports now go to the Messina Six.) But could Britain consent to have her tariff policy toward the rest of the Commonwealth, the system of "imperial preference," tampered with by an outside authority? If Britain were forced to choose between Europe and the Commonwealth, said Harold Macmillan, "we could not hesitate...
...outlined last week, the British plan was still mostly yeast in the vat of the future. The Cabinet, Macmillan emphasized, "has not yet arrived at a conclusion on this vital matter." There were strong reasons for the government's hesitation. British entry into a European free-trade area would involve painful adjustments. While some factories would prosper and expand, others would go out of business-a prospect to send cold chills down the spine of many a British industrialist. Some labor leaders were sure to make a fist at the very suggestion of even temporary disruptions of employment...