Word: exporters
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...establish diplomatic relations with Cuba. Chile did so a year ago, Mexico has maintained relations with Havana all along, and Argentina and Venezuela may follow. The result could be a rapid erosion of the isolation that was imposed on Cuba in 1964, when Castro's attempt to export revolution to Venezuela was exposed and the Organization of American States invoked trade and diplomatic sanctions against Havana...
...that Chiang Kai-shek would reconquer the mainland was, alas, "a little counter-revolutionary vision." Turning to the U.N., he described Albania, sponsor of the successful anti-Taiwan resolution, as "a little, reclusive country composed primarily of rocks and serfs, with here and there a slave master, whose principal export is Maoism." Buckley's recommendation: the President should instruct the U.S. Ambassador to the U.N. to abstain forthwith from voting in the General Assembly...
Laying Off. In many parts of Western Europe, unemployment is creeping up while steel production is in a decline and demand for export-import financing is flagging. Italy is in the deepest trouble. Plagued by strikes and absenteeism, industrial production is running 3% lower than last year, while prices are 5% higher. Fiat, the automaker, has placed 8,000 workers on a short week; tiremaking Pirelli is offering workers in the Milan area cash gifts to quit. Zanussi, Italy's biggest electric-appliance manufacturer, plans to lay off 9,420 by year's end. Refrigerator producers reckon that...
...order to meet higher taxes and spiraling living costs (an 11% increase so far this year). Postal workers deliver the mail at a snail's pace. Grocers recently struck to protest Israel's 20% devaluation in the wake of U.S. economic moves. Customs inspectors have disrupted the export-import trade with brief but frequent strikes. Even hospital staffs and lifeguards have walked off their jobs temporarily. Lost work days were few compared to other nations, but the strikes were highly visible...
Under government development policies that include a 15-year tax holiday on export profits and non-repayable cash grants of up to half the cost of plant and equipment, some 500 new factories have gone up in Ireland. About 350 are foreign-owned, and the roster includes IBM, General Electric and Olin from the U.S., Plessey from Britain, Switzerland's Oerlikon, South Africa's De Beers, The Netherlands' Verolme United Shipyards and Germany's Liebherr. The Irish Industrial Development Authority, under Michael Killeen, 43, a former head of the Irish Export Board, will spend about...