Word: exporting
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Dates: during 1960-1969
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...much of it in the form of factories to produce such former U.S. imports as knives, radios, cameras, tubing, flour, cable, screwdrivers, electric motors, hinges, light bulbs, farm machines, printing presses, office equipment, medical instruments. The deal also included a barter exchange-sugar, the nation's major export, for oil, the major import. To refine the Russian crude, Che seized the three foreign refineries-Shell, Esso and Texaco-without compensation...
Another cheery note for 1960's second half is international trade. The National Foreign Trade Council forecast that U.S. exports (excluding military aid shipments) will exceed imports by $3.4 billion by the end of the year. During 1959 the surplus was just under $1 billion. Aided in particular by foreign sales of commercial aircraft, and of copper and iron and steel products, exports in 1960 are expected to total $18.8 billion, against imports of $15.4 billion. This export surplus will help the U.S.'s balance of payments, and the U.S. trade deficit is expected to drop from...
...work force. But this is part of the trouble. Manufacturers find it all too easy to sell to the domestic market. When it comes to competing abroad, noted The Economist, "the British nowadays have an old fogy's habit of treating the sometimes brash, brassy and rather fanatical export drives of some of their main competitors as a superior sort of a joke...
...spur sales abroad. "We have always been merchant adventurers," he told a London audience of 400 top businessmen last week. "That is our tradition. I urge you to recruit your fellows into those noble ranks." He noted that "our German friends have coined a word, Exportfreudigkeit, or roughly 'export joy,' " and he invited his blue-chip audience to get out and learn what it means...
...London, without objection from the U.S. delegate, the International Sugar Council met last week to rejigger world export quotas in Cuba's favor to make up for the loss of the U.S. market. The council authorized other nations, including Soviet Russia, to increase their purchases by 1.250.000 tons. In effect, the new quotas will keep Cuban sugar exports (and employment of Cuban sugar workers) near normal, though Cuba will still lose the extra $150 million the U.S. previously paid above world prices. The council's fast reshuffling of trade discouraged buyers' hopes that unallotted quotas would depress...