Word: importance
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Dates: during 1950-1959
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...other anti-inflationary controls. To keep wages in line, they abolished the old system of pegging salaries to the cost-of-living index-though to compensate France's poor for increased food costs they decreed a 5.5% raise in the minimum wage. And by the removal of import quotas on a wide list of products. France's manufacturers would be exposed to so much foreign competition that it would be difficult for them to raise prices. Had these measures of "truth and severity" been proposed by anyone but De Gaulle, France would surely have been...
After killing Britain's proposed Western European Free Trade Area (TIME, Dec. 1), the French had agreed to extend to outside nations the same 10% tariff cuts and 20% import quota increases promised to the members of the Common Market. This was as far as the protectionist-minded French intended to go. They would not grant to outsiders the Common Market provision to raise import quotas in each category to at least 3% of a nation's home production (which would allow a lot more German Volkswagens than British Hillman Minxes into France). To the British charge...
...IMPORT CURBS, which are now voluntary, are expected to become mandatory. Justice Department opposes voluntary system on grounds that importers divide up markets. Government also is considering putting tariffs...
Closer to Equality. At Bad Kreuznach, De Gaulle skillfully countered France's critics. In a show of moderation, he agreed that the 10% tariff cut and the minimum 20% increase in import quotas which the Common Market six will accord one another's goods beginning Jan. 1 should be temporarily extended to outside nations, while some kind of "multilateral association" is worked out between the six and the rest of Europe. This was not enough to satisfy Erhard. But Adenauer is desperately anxious for Germany to forge an unbreakable alliance with France...
...fight the war, the U.S. needed everything that Mexico produced-cotton, metals, ores. The railroads were antiquated and creaky, but at least they were submarine-proof. U.S. dollars tumbled in, exports rumbled out. Many rich ex-landowners built factories to produce the goods Mexico could no longer import...