Word: exports
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Dates: during 1960-1969
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...other films (The Householder, Shakespeare Wallah), Director James Ivory proves a precise and witty landscape artist. The Victorians may have traded in silks and spices, but, as Ivory shows, today's Elizabethans are in the culture export-import business. The proof is provided in contradictory fragments: a sitar sits near a hi-fi rig; a girl is dubbed a beauty queen with a rhinestone coronet that matches the jewel in her nose; groupies sleep on a temple's tessellated floors...
There is little evidence that the disparity between the mark and the franc will end soon. The continuing West German economic surge, which underpins the mark's strength, goes against classic economic theory. Rapid economic growth should almost inevitably produce much higher export prices and the demand for more imports, both of which are damaging to a country's trade position. Yet Bonn has managed to keep its economy expanding with little inflation. West German Economics Minister Karl Schiller said in his annual report that the country's production grew by almost 9% in 1968 and should...
Reverse Image. One reason for Germany's trade prowess is that its export prices have remained essentially the same since 1964, while those of the U.S., Britain and Bonn's five Common Market partners have increased by an average of 7 %. If Bonn were to peg the obviously undervalued mark at a higher price, it would relieve the competitive imbalance by making German exports more expensive and imports cheaper. Schiller, who still hopes to avoid revaluation, predicts that various other measures will help pare West Germany's trade surplus to $3 billion this year. Even that...
...dried up. Nearly 1,000 businessmen made inquiries about shifting to Taiwan or Singapore. But peace returned-and so did prosperity. No businesses actually moved out. Despite the monumental inconveniences caused by what is now euphemistically called "the disturbances," 1967 turned out to be Hong Kong's best export year until then, and 1968 was even better in every respect. Last week, as it celebrated the Chinese New Year-the "Year of the Rooster"-the British crown colony had plenty to crow about. Business has never been better...
...group of top executives, argues that VAT should be considered as a partial replacement for corporate income taxes. Congress so far shows no inclination to consider such fundamental changes. In Geneva, American negotiators have been pushing for a sensible change in GATT rules to allow U.S. companies to receive export rebates based on corporate income taxes and other "direct" taxes. In his final economic message, President Johnson asked for Europe's help in revising the rules "so that they no longer give a special advantage" to Europe...