Word: import
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Dates: during 1960-1969
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Domestic industries such as tobacco are flourishing since the regime banned the import of foreign cigarettes, and nine state-run companies that turn out such basic needs as iron, coal and heavy machinery are making a profit for the first time. Private foreign investment capital is badly needed; West Germany has granted a $27 million loan, and talks are under way with Italy and Norway...
...unemployed workers. Cumbersome monopolies, which produce goods at inflated cost, lobbied successfully against establishing domestic rivals. Factory managers boosted wages by a staggering 23%, went on a buying spree for foreign machinery for which the National Bank had to shell out scarce hard currency. At the same time, relaxed import barriers flooded Belgrade shops with French cognac, Italian shoes and other fancy consumer goods that the economy could not afford...
Died. Michael Curtiz (pronounced Curtease), 73, Oscar-winning (for Casablanca) Hollywood director, a leathery Hungarian import who, in a 35-year career spent largely with Warner Bros., directed 80-odd films ranging from blood and thunder (The Charge of the Light Brigade) to canned Americana (White Christmas), was famed for his malapropisms ("Make a love nest") and his gall (he cut the sermon to the birds out of Francis of Assist as "too corny"), but stubbornly insisted "I put all the art into my pictures I think the audience can stand"; of cancer; in Hollywood...
...sense of freedom from the prejudices of the home office." Strangely, the Review itself seems unwilling to be unequivocal in its critical columns. After examining Dow-Jones's disappointing new weekly newspaper, the National Observer, the Review ticks off numerous flaws ("unbelievably prolix . . .cluttered . . . fillers of trifling import"), then warmly salutes the new paper: "Deserving of congratulations all around." In the same spirit of charity, it finds the San Francisco Chronicle "the big-city newspaper of the future," then adds: "It just doesn't print much news...
...Possible. There was audible opposition, of course. Oscar R. Strackbein, chairman of the Nation-Wide Committee on Import-Export Policy and for a decade Washington's No. 1 professional lobbyist for trade barriers, warned that the bill would give the Administration "power to push domestic industries onto the ash heap." Spokesmen for firms that make machine tools, watches, bicycles, pianos and other products complained that tariff cuts would injure their industries. But these warnings and complaints seemed no more fervent, and perhaps less persuasive, than at hearings on reciprocal trade renewal in past years...