Word: exports
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Dates: during 1960-1969
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...billion invested, mainly in petroleum (Royal Dutch/Shell), chemicals, textiles, insurance and a range of consumer items that includes Brown & Williamson's Viceroy cigarettes, Unilever's laundry products and Good Humor ice cream, and hot-selling Capitol Records, in which EMI Ltd. has a controlling interest. Current sterling-export restrictions are making expansion difficult but not impossible. Much as U.S. firms do in Europe, Bowater Paper went to U.S. capital markets for its share of a new $14 million newsprint plant that it is building jointly with the Newhouse newspaper chain...
...West Germany, whose surprisingly small ($247 million) U.S. stake reflects a caution resulting from wartime confiscations, may become the biggest investor within the next decade. Hoechst, Bayer and BASF are leading a current surge of interest in manufacturing on American soil the chemical products that they now export to the U.S. The West German government, uneasy about its big trade surplus (TIME, Oct. 25), is strongly urging others to build abroad...
...France, showing a facile disregard of its own campaign against "Americanization" at home, dropped its stiff capital-export restrictions, and is rapidly increasing its $247 million U.S. interest. The latest in a new wave of ventures comes from Pechiney, which last month announced plans to build a $190 million aluminum smelter in Maryland with its own 46%-owned Howmet Corp...
Bridling at the Setup. As the source of three-fourths of the free world's new gold, South Africa bridled at the new arrangement. Officials figured that if the country turned to the free market for a gold outlet, the price of its largest export would plunge. The U.S., on the other hand, hoped that South Africa would be forced into making free-market sales, thus lowering simultaneously the price of gold and the pressure on the U.S. dollar. The result has been a six-month war of nerves. South Africa has stashed away all but a tiny...
Crossbows and Coffins. The rise in exports can be largely attributed to the fact that last November's devaluation of the pound is finally taking effect. Meanwhile, major industries, with help from the government, are also making serious efforts to increase their export trade, and small businessmen are trying harder than ever to sell abroad. One delegation of small traders arriving in the U.S. recently included a dealer in crossbows equipped with telescopic sights, manufacturers of sedan chairs and stagecoaches, and a promoter from Surrey who maintains that he can provide "the most distinguished casket since Shakespeare...