Word: important
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Dates: during 1950-1959
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...needed was a good local bank, to issue loans, cash IOUs and convert one man's lire into another man's pounds. Marshall Planner Paul G. Hoffman proposed the European Payments Union (EPU), to do two things: 1) "liberalize" European trade by curing its ancient plague of import quotas and exchange controls; 2) act as a central clearinghouse through which the 18 Marshall Plan countries could make all their trading payments. The U.S. put up $350 million to get the bank started; 18 members opened accounts, and EPU was in business, with a two-year lease...
...income for eight years. The bill was carefully itemized. One-third was to be paid in the woodworking products which made up 80% of Finland's export earnings. Another third was to be paid in ships and cables, for which Finland would have to build new yards and import vast quantities of raw materials. The remaining third was to be paid in the products of heavy industry, for which Finland possessed neither the plants nor the material...
Private Talk. The import of all this was not lost on the Communist delegates at Panmunjom, who showed less truculence at the truce table...
Masakatsu Hamamoto, who describes himself as "the only Oriental in my class," traveled farthest to be at the reunion, coming from Tokyo, Japan. He is combining the trip with business, for the import and export firm of J. Osawa and Co., Ltd. of Tokyo and Kyoto. Asked how he was enjoying the mob meeting, he answered that he was enjoying it, but "it takes a while to go back 25 years; to put myself back that far. When I do, though, my classmates look pretty much the same as over to me--happy, confident, and yet serious when needs...
...money to expand, Piaggio borrowed $1,080,000 from the Export-Import Bank and ECA. Piaggio organized Vespa clubs, races and contests, thinks that "the best way to fight Communism in this country is to give each worker a scooter, so he will have his own transportation, have something valuable of his own, and have a stake in the principle of private property." Taking their cue from this, many industrialists have bought Vespas on a reduced-price fleet plan, sold them to employees by paycheck deductions. In Piaggio's own plant, 60% of the 3,500 workers who once...