Word: globalization
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Dates: during 1960-1969
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...that, the IMF reported last week that international monetary reserves shrank during the first three quarters of last year from $68.9 billion to $68.88 billion while global exports rose 5%. In the long run, the expansion of prosperity-giving world trade requires growth, not shrinkage of those reserves, which are composed of gold, dollars, British pounds, and drawing rights...
...there could be no doubt. Nor of the stakes, should the present all-out effort to get to the conference table fail. By any measure, Johnson had engaged the power and prestige of the U.S. to the hilt in one of the most intensive, difficult, carefully conducted and important global maneuvers in its diplomatic history. By the end of last week, the bombing pause and the peace offensive were in their 16th day. Were there any omens that they might just succeed, for all the odds against them...
...turn his fancy into fact, Geneen chopped down a somnolent executive hierarchy and tightened Manhattan-headquarters control over I. T. & T.'s global spread (195,000 employees, 27s factories and offices in 52 countries). He also became one of the corporate world's most expansion-minded executives. He has made 35 acquisitions, including an auto-rental company (Avis) and a mutual-fund management company (Hamilton), has moved into heating and ventilating equipment, consumer finance and life insurance. One result: the doubling of both I. T. & T.'s sales and its profits ($63 million...
...State of Mind." The burden of running a global army rests on the cool, thoughtful officer who occupies Room 3-E-668 in the Pentagon. General Harold Keith Johnson, 53, the 24th U.S. Army Chief of Staff-and the youngest to be appointed since Douglas Mac-Arthur-is a team man of austere, probing intelligence in the managerial mold of McNamara's Pentagon. "Like McNamara," says a Defense Department aide, "Johnson is a computer. But he is a friendly computer...
...equilibrium-a balance of payments deficit or surplus of no more than $250 million. Whether they will also tend to choke off investments that produce a golden stream of returning profits is another question. Voicing that fear last week, General Electric President Fred J. Borch expressed alarm at the global trend toward "resurgent nationalism" in economic affairs. "Businessmen all over the world cannot fail to be greatly concerned," he said, "about today's mushrooming restrictions on international trade and investment. Once set in motion, they will be difficult to turn back, leading to an escalation of protectionism...