Word: exportable
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Dates: during 1950-1959
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...time that she was a Communist spy. He had worked for the National Resources Planning Board, the Office of Price Administration, the War Production Board and the President's Council of Economic Advisers. After the Bentley charges, he was suspended as chief of the Commerce Department's export program, but later was reinstated by a loyalty board that rejected the Bentley testimony. When more evidence against Remington came to light, Commerce Secretary Charles Sawyer fired...
Before the rubber boom had run its course, Brazil became the world's No. 1 exporter of coffee. Coffee is still the mainstay of the economy, accounting for two-thirds of export income. "Brazil walks on one leg," said a Vargas Finance Minister, "and the leg is coffee." Dependence on a single product makes Brazil vulnerable to exchange crises every time the price slides. Not only is the one leg wobbly: it might some day wither altogether and go the way of dyewood, sugar, gold and rubber. Competition from the other coffee countries and from cheap-labor plantations...
Brazil's headaches and growing pains are proportionately huge; the country is racked by inflation, is desperately short of development capital and pitifully dependent on its one big export, coffee. As the finance ministers of Latin America gathered last week for the inter-American economic conference (see below), Brazil was an almost perfect case history of the economic ills besetting most of Latin America...
...Wobbly Leg. President Café Filho is well aware that all his problems did not originate with the Vargas regime. Even before Vargas, Brazil had embarked on the slow, painful transition from an agricultural economy based on production for export to a diversified economy based on production for domestic use. The pattern of Brazil's economic past is a series of wonderful one-product export booms, invariably followed by abysmal busts. First came a 16th century boom in a red dyewood called pau-braza (literally, ember wood), which gave Brazil its name. In the 17th century Brazil became...
...being planned by the Chase National Bank to help U.S. businessmen compete with foreign companies, whose governments often underwrite long-term payments. Chase's plan is to form a huge credit pool called Foreign Finance Co. to minimize the risk to any one company. Under the plan, exporters would only collect a 20-25% down payment from foreign buyers; the remaining 75-80% would be financed jointly by the company itself, the Export-Import Bank and the new Foreign Finance...