Word: exportability
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...Enough. During his first year, Sánchez maintained the principal lines of Munoz's development program. He scored a far-reaching triumph in concluding an agreement with Washington and Phillips Petroleum for construction of a major petrochemical complex that will export petroleum and petroleum-based products (TIME, Jan. 7). Economic growth has been held at nearly 10% a year, one of the highest rates in the world. Politically, Sánchez chose innovation. He elevated dozens of young, energetic officials to high posts. For the first time, the legislature was called into three special sessions. At his behest...
Even so, Indians often ignore available food. Though Kerala fishermen haul in tons of shrimp, lobster, mackerel and sardines each year from the fish-rich Arabian Sea, the vast majority of the catch is sold for export, and Keralans use the money to buy extra rice at exorbitant black-market prices. They also largely ignore the sweet potatoes, bananas, pineapples and coconuts that abound in the state's lush tropical forests. And, though more Hindus discreetly eat meat, the vast majority in cow-rich India leave their beef on the hoof for religious reasons. Half of India...
Just a few years ago, the idea of selling much to the desert kingdom would have been laughable. Libya's export-heavy economy was literally peanuts-and peanuts could not pay for much. Now businessmen from abroad are falling over one another to peddle their goods to Libya. Suddenly Libya has more money than it knows what to do with. Since 1961, when U.S. and other foreign firms began pumping oil from beneath its sands, it has leaped into eighth place among the world's oil producers, is now turning out 1,200,000 barrels...
...stormy Atlantic to Antwerp with that ocean's first regularly scheduled commercial container cargo. In mid-March, U.S. Lines will begin weekly sailings from New York to Europe with the first of four vessels specially fitted to stack containers in their holds like bricks in a wall. American Export Isbrandtsen Lines is converting two ore carriers for container service. San Francisco-based American President Lines last week announced plans to switch nearly all of its transpacific freighter service to container ships...
...port showed a surprising rate of growth. Between 1945 and 1959, the average volume of import-export cargo almost tripled. Construction and improvements involved huge expenditures, however, so the Massachusetts legislature terminated the Port of Boston as a government agency and in 1956 created the combined Massachusetts Port Authority. The Authority, which presently operates and controls Logan International Airport, Hanscom Field, Port of Boston properties, and the Mystic River Bridge (whose revenues are bigger than those of the port properties), is a curious mixture of business and government designed for the purpose of making the port a commercial concern, rather...