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Name of the Grain. Exports of top quality European wheat flour, for example, receive a subsidy equal to 80% of the world market price. Taking advantage of that, one enterprising German trader was convicted of making several hundred thousand dollars by exporting certified "finest wheat flour" to Switzerland and pocketing the subsidy. When EEC officials finally inspected a shipment, they discovered that the flour actually was a nonsubsidized mixture of cattle feed. Conversely, "cattle feed" imported into the Common Market duty-free often turns out to be a mixture of two high-tariff commodities, wheat flour and sugar...

Author: /time Magazine | Title: COMMON MARKET: The Agro-Frauders | 5/31/1971 | See Source »

Really sophisticated agro-frauders make profits both coming and going. Their aim is not to sell their products at all, but to keep them moving around in a circle, changing labels at each border as subsidies and tariffs dictate. One Antwerp grain dealer set some kind of agro record by shipping the same boatload of wheat back and forth between Antwerp and Rotterdam for days. The cargo was never unloaded, but simply relabeled with the name of a different kind of grain at each port...

Author: /time Magazine | Title: COMMON MARKET: The Agro-Frauders | 5/31/1971 | See Source »

Perhaps half the city's population has fled to outlying villages. With the lifting of army blockades at road and river ferry exits, the exodus is resuming. Those who remain venture outdoors only for urgent food shopping. Rice prices have risen 50% since the army reportedly started burning grain silos in some areas. In any case, 14 of the city's 18 food bazaars were destroyed. The usually jammed streets are practically empty, and no civil government is functioning...

Author: /time Magazine | Title: PAKISTAN: Dacca, City of the Dead | 5/3/1971 | See Source »

...returned to work. Millions of Red Guards were sent to labor in remote areas where they could make less trouble. Agriculture was given priority, and thousands of small fertilizer plants, repair shops and power stations were built in the countryside. The result was a significant upsurge in the 1970 grain harvest, claimed to be 240 million tons, as well as in industrial output, which Pe king claims amounts to $90 billion. Some analysts guess that China's economic growth rate reached 10% last year, and all are agreed that the economy has now fully recovered from the ravages...

Author: /time Magazine | Title: The World: The Ping Heard Round the World | 4/26/1971 | See Source »

...domesticity may eventually outweigh her professional ambition. "I've essentially accomplished what I set out to do, and I'll be ready to quit the day my son says, 'I don't want you to go out.' " In Hollywood such familiar pronouncements have become grain-of-salt cliches. In England, at 51 Harvey Road, the forthright mistress of the house means what she says...

Author: /time Magazine | Title: Show Business: The Talented Mrs. Hodges | 4/26/1971 | See Source »

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