Word: forli
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Dates: during 1950-1959
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In 1959, most of the world's industrialized nations reached new peaks of production and wealth, and less developed nations tasted the first fruits of free enterprise and asked confidently for more.
Despite the new riches, no one regarded the world through Utopian spectacles in 1959; desperate poverty was still a condition of life in many lands. Nevertheless, even the humblest of nations could at least look ahead to the 1960s with hope. There were two reasons for this. In their new...
¶ Japanese had rebuilt their country so fast that they had been able to send $1.2 billion worth of investments overseas (including a Bank of Tokyo branch in Los Angeles), and had become a creditor instead of a debtor nation for the first time in history.
These sound practices are as well known abroad as they are in Washington. With a budget in balance, the U.S., says British Economist Graham Hutton. must take normal corrective measures to get its balance of payments in order. Button's prescription is for the U.S. to reduce foreign commitments...
One encouraging sign at year's end was that U.S. exports were already on the rise again after their slowdown. Wage costs in foreign nations were also on the rise, narrowing the foreign advantage over the U.S. Now that the alarm has been raised, many a businessman is not...