Word: importance
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Dates: during 1970-1979
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Saying the Unmentionable. The breakthrough came when the U.S. at last brought itself to offer two indispensable concessions. First, American officials pledged explicitly to drop the 10% import surcharge as part of a money bargain. Then Connally began talking about the previously unmentionable: outright devaluation of the once almighty dollar. For their part, moneymen from Europe and Japan started discussing just how much they would let their currencies rise against the dollar...
...Kosygin. There, and in subsequent discussions throughout the week, the Russians asked to be accorded "most favored nation" status by the U.S., a move that would give Russia the same low-tariff access to American markets that other U.S. trading partners enjoy. Kosygin also suggested that the U.S. Export-Import Bank extend Russia the same easy credit arrangements offered to other nations. American refusal to grant credit and the Soviet Union's dearth of hard currency have long limited Soviet trade with...
...Chile last year and has spawned a predominantly leftist front in Uruguay, where elections were held early this week. Both movement are strongly nationalistic and directed to a large degree against foreign investment. ANAPO, using the same technique, calls for a state takeover of all mineral wealth, the import-export trade and the banking system. A probable target might be some of the $700 million private U.S. stake in Colombia, half of it in oil. But Rojas Pinilla himself does not openly oppose foreign investment...
...Nixon look in American foreign policy is basically responsible. Sensing a trend, a pretty young thing called Veronika Yhap put aside her work as a hospital planner and became a Dragon Lady-one of four, in fact, who banded together under that name to import Chinese-manufactured clothing and handicraft. Born in Shanghai but educated in the U.S., Veronika found a host of potential buyers around Manhattan shops after she showed clothes from her own wardrobe. "The response was fantastic." she says, "and we were in business before we knew...
Charges of red tape in Washington are common enough, but rarely are they made by high Government officers. In a new report, Secretary of Transportation John Volpe reveals some shocking statistics about the high costs that red tape tack on to the nation's imports and exports. Says Volpe: "The cost of documentation in U.S. international trade has reached nearly $6.5 billion annually, or 7.5% of the value of U.S. export and import shipments." The documents are demanded mostly by the Government, but also by banks, insurance companies and shipping firms. Items...