Word: exporters
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Frei (pronounced fray) had no illusions. "The facts cannot be cloaked," he said. Chile's foreign debt is $2.3 billion, with amortization and interest alone swallowing 50% of export earnings. Gold and dollar reserves are down to a scant $160 million. And then there is inflation. "My great enemy," groans Frei. "From last November to this November it climbed 47%. This cannot...
Winging into London to promote a Soviet film festival, auburn-haired Soviet Cinemactress Natalya Fateyeva, 25, speedily shaped up (36-25-37) as the most popular Russian export since caviar. Ounce for ounce, it also developed, she was in the same price league. Offered a small role in Paramount's production of Moll Flanders, she allowed as how she was "very flattered." However, she is already earning $75,000 a year, and "for $6 a week I get a luxury flat in Moscow and a beautiful country cottage. I have my car, my three fur coats...
Result: Britain's trade gap topped $1 billion in this year's first nine months, and the country has been heading toward a 1964 payments gap almost equal to its entire gold reserves. Throughout the postwar era, Britain's inability in periods of domestic prosperity to export enough to pay for its imports has meant recurring payments crises, pressure on the pound, and credit-tightening moves that have restricted economic growth...
When the U.S. did enter the war, Hoover came home to head the U.S. Food Administration. Without resorting to either price controls or rationing, he met the domestic and military food demands of the U.S., increased the export of foodstuffs to hungry allies by 35%. At the height of wartime passions, he urged that German and Austrian women and children be fed by the U.S. too. "I did not believe that stunted bodies and deformed minds in the next generation were the foundation upon which to rebuild civilization," he later explained. At war's end, Hoover headed a massive...
...good deal more than tariffs serves to retard trade within LAFTA. Political and monetary upheavals discourage long-range trade deals, and export financing is hard to come by in Latin America's tight capital markets. The Latin nations produce roughly the same kinds of basic commodities, sell little to one another. Railroads, highways and ports in many areas range from primitive to nonexistent, and shipping is in short supply. "To intensify trade," says Ecuador's National Planner Raul Paez Calle, "we must have an infrastructure of communications, transport, power supply and, perhaps more important, a human infrastructure...