Word: exporting
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Dates: during 1960-1969
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...years ago, the four-man junta that succeeded him quickly embarked on "the unpostponable obligation of carrying out basic reforms." It outlawed the country's 4,000-member Communist Party, adopted the country's first civil service law, cracked down on smuggling, centralized tax collection and tightened export regulations on bananas, Ecuador's biggest cash crop. The reforms were necessary-though not necessarily popular. But when it came to a return to constitutional rule, the junta moved slowly, promising elections some time in 1966. Last week public impatience suddenly erupted into a bitter crisis for Ecuador...
Bangkok now has 156 silk shops, which export their goods to 60 countries, ring up a yearly volume of $4,000,000-a considerable amount for Thailand. Silk has been a golden enterprise ever since a onetime U.S. intelligence officer, Jim Thompson, revived the dying art of weaving in 1948 and made himself a bundle of bahts by selling bright bolts of cloth to tourists (TIME, April 21, 1958). Thompson is still the largest producer, but he has attracted plenty of competition from entrepreneurs who sell finished dresses as well as the cloth. Gaining fast are two firms that combine...
...expanded with financial help from the wife of the late Prime Minister Sarit. Though she has dropped out, Cykman's Star of Siam is now worth about $500,000. His plant works two shifts daily, weaving silks for his four Bangkok stores, three foreign branches and his busy export trade. Next Cykman intends to sell public shares to help finance a 100-loom weaving plant in northeast Thailand...
...fall of 1966. He clearly feels that Britain's austerity measures have not yet had a chance to work. He stressed the pound's strong reserve backing: $2.8 billion in gold and currency buttressed by a $1 billion standby credit with the Federal Reserve System and the Export-Import Bank, plus a $1.2 billion Government-owned portfolio of U.S. securities that Britain is gradually converting into bonds and time deposits. Callaghan sought no official commitment of new support from the U.S., but a communique issued by him and Secretary Fowler spoke of the "identity of interests" between...
Welfaring Natives. The capital city of Kuwait, a mud-walled, back-desert town before 1946, when the country's oilfields were first tapped for export, is now a modern city. It has broad, tree-lined boulevards, starkly modern office and apartment buildings and 2.3 window air conditioners (some placed in mud walls) for every resident. Kuwaitis have no taxes, receive free education and medical service, pay as little as $1.40 a month for modern, government-erected housing. Anyone who needs employment is hired by the government, often in such make-work jobs as operating automatic elevators and opening...