Word: exporting
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Dates: during 1960-1969
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...professorial Toronto management consultant who is virtually certain to become Pearson's Finance Minister, cites the $200 million in parts that the Canadian auto industry imported last year from the U.S. Through tax incentives, Gordon hopes to encourage the industry to make more parts in Canada and export more of them...
...years ago in Ecuador, a farmer could buy a tractor with the money from selling 50 bags of coffee; now it takes 150 bags. In Malaya, the government has lost $60 million in export duties in the past two years because of falling rubber prices. A 50% drop in cocoa prices has forced Ghana to suspend its economic development program. When a Biblical-sized storm of cotton worms descended on Egypt's cotton crop in 1961, the damage cost Egypt nearly $200 million in foreign exchange. All of these countries have one problem in common: their economies depend heavily...
...Ireland and of corrupting the Irish people by kindness, and so stifling the virtues of self-reliance and industry." As applied by bumbling bureaucrats, the doctrine meant that food (Indian corn mostly) should only be distributed by private agencies. Private traders (though few existed) should import the stuff. Exporters should on no account be hindered in their natural economic function. As a result, oats were carried to the docks for export past starving...
What really had Washington and Bonn concerned was London's next move. Brit ain, excluded for now from the Common Market and plagued by serious unemployment, was eager for export markets anywhere; if one inch of large-diameter oil pipe was delivered to Russia, the NATO boycott would be broken. West Germany and Italy could no longer be restrained. Neither could France, which has a massive (500,000 tons), and mostly unused, annual capacity for pipe production, but which supports the U.S. completely on the allies' debate over the strategic value of Moscow's Big Inch...
...however, expropriation leads only to money-losing bureaucracy and featherbedding, frightens off new foreign investors and inspires the remaining ones to kick up their prices to reap a quick profit before they too are grabbed. Through its anti-Dutch expropriations, Indonesia lost its best technicians and much of its export earnings, and is now nearly bankrupt. Argentina's $365 million budget deficit is due almost wholly to its losses from the nationalized railways and utilities that it took over during the Perón era from their British and U.S. owners. Warned a U.S. report on foreign aid, released...