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Before the January embargo, Moscow had planned to import some 25 million tons of grain from the U.S. during 1980, as well as about 12 million tons more from other nations. The Carter Administration stopped the export of approximately 17 million tons, but the Soviets have been able to make up for most of that on world markets. The Soviet Union has been obtaining large amounts of wheat and corn from Argentina, which refused to support the U.S. boycott. Usually the Soviets are forced to pay higher prices to these suppliers than they paid...

Author: /time Magazine | Title: Business: Harvests Down, Prices Up | 11/10/1980 | See Source »

Manley had explained to his fervent followers that Jamaican problems resulted from a devastating triple play: Western imperialism and its effect on the Jamaican capital, a skyrocketing oil import bill and blundering representatives in the International Monetary Fund (IMF). The IMF received particular wrath from Manley, who blamed the Fund for forcing a Jamaican currency devaluation which he claimed had disabled the Jamaican economy. Symbols of last week's election, graffiti scrawled on the walls of Kingston and throughout the country, denounced the IMF for trying to prompt the downfall...

Author: By David Lawrence, | Title: Involuntary Crimes | 11/6/1980 | See Source »

...loans under stringent conditions Jamaica was already in economic convulsions. To blame the IMF for Jamaica's downfall is to point to a symptom and not the cause. Furthermore, the IMF has demonstrated worldwide that its help has stabilized economies of all sorts. After all, no country can import more than it exports for a sustained period of time...

Author: By David Lawrence, | Title: Involuntary Crimes | 11/6/1980 | See Source »

...attract needed dollars, the government is resorting to vintage capitalist incentives. Saigonese with dollar accounts abroad who repatriate their wealth are rewarded with access to duty-free stores that sell imported goods. Citizens who receive dollars from relatives overseas can exchange them for Vietnamese dong at a premium rate. Businesses that make products for international trade are allowed to receive or spend dollars and gold freely. Explains one government adviser: "We don't care where the dollars come from as long as they are used to import raw materials and create new jobs." Saigon is also welcoming investment from...

Author: /time Magazine | Title: Business: Defiant Saigon | 11/3/1980 | See Source »

...Carter Administration wants a more modest, and less costly, reform. This would extend coverage only to suppliers of actual, essential components. What is more, such companies would have to show that at least 50% of their output had been going to the firm being directly hit by the import competition...

Author: /time Magazine | Title: Business: Jobless Muddle | 10/27/1980 | See Source »

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