Word: gentili
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Dates: during 1956-1956
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...TRADER GENTILI Profits from Mao, cash for Nenni...
worth $1,600,000. He is also a Red-hot Marxist and a major character in a matter of increasing concern to the U.S.: Western Europe's mounting exchange with Red China. In the four years since Dino Gentili clamped a half nelson on Italy's China trade, he has pushed it from almost zero to $1,000,000-plus a month. Italy has now climbed to third place (behind Britain and West Germany) among Western European nations in trade with the Chinese mainland...
Rayon & Beans. Exporter Gentili, who also dabbles in politics (he ran unsuccessfully for the Italian Senate in 1948 and 1953), was approached in 1952 by Communist Leader Spartaco Muratori, then bossing a chain of party-owned firms that handle more than half of Italy's $123 million yearly East-West trade. Muratori made a deal with Gentili to take over the party's China trade. Two months later Peking gave Gentili an order for 7,000 cases of rayon fiber, paid him off with a shipload of soybeans, which he sold in Antwerp. Later Gentili was made...
Ever since, business has been booming, though Gentili has been blacklisted by the U.S., and the Italian government refuses to grant him import or export licenses. He has built a fortune by arranging deals between China and Italian suppliers. Through Gentili they ship textiles, chemicals, Pharmaceuticals and other nonstrategic items, although the Milan right-wing daily, La Patria, charged that Contact Man Muratori is "a notorious trafficker in strategic materials to the Soviet bloc." Gentili repays the Reds doubly for his virtual monopoly by pouring much of his profit into the treasury of the Communist-lining Italian Socialist Party...
Metals & Machines. Last spring Gentili shepherded to China a party of top industrialists, including some from the huge Montecatini chemical group and the Farmitalia agricultural implements combine. They closed $15 million in contracts for the sale of fertilizer, rayon and other nonstrategic items. Regally received by Mao Tse-tung and Chou Enlai, Gentili himself won agreements for the export of strategic metals, machinery and tractors -if and when Italy lifts her embargo on strategic exports to China. Gentili is now busily lining up export-hungry Italian businessmen to try to do just that...