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When the world's monetary powers agreed to realign their currencies in return for an end to the U.S. import surcharge, one important country was missing from the revaluing ranks. Canada, the largest U.S. trading partner, had already allowed its dollar to float to higher levels more than a year earlier. Ottawa officials hope that their dollar will float down again so that Canadian exports will be cheaper in the U.S., and the Nixon Administration so far has not pressed Canada to fix a formal rate for its dollar...

Author: /time Magazine | Title: WORLD TRADE: Conflict over Cars | 2/7/1972 | See Source »

...nation's slipping trade position and one of its causes, the decline in U.S. productivity compared with that of its competitors. Nixon began using phrases from the presentation almost immediately, and in August incorporated into his New Economic Policy several of Peterson's recommendations-including the import surcharge and the freeing of the dollar from gold...

Author: /time Magazine | Title: APPOINTMENTS: Supersalesman Arrives | 2/7/1972 | See Source »

...bank forecasts a moderate improvement in the overall payments balance in 1972 but does not expect the nation's export-import picture to be much brighter. One reason: the U.S. economy is expanding and will demand more imports, but Europe and Japan are slowing down and will hold back on buying from...

Author: /time Magazine | Title: BALANCE OF PAYMENTS: And $31 Billion Down | 1/31/1972 | See Source »

...drive for progress, Busia had left a trail of resentment and unrest. He sacked 600 civil servants (mostly for political reasons), threatened to fire judges who were uncooperative, imposed a special "development" tax of 1% to 5% on incomes of more than $ 1,000 a year, and banned the import of 150 items ranging from cigarettes to new automobiles. Last month, in what proved to be the last straw, Busia devalued Ghana's currency by a whopping...

Author: /time Magazine | Title: GHANA: Paying for Unpopularity | 1/24/1972 | See Source »

Fred Branfman, a reporter for Dispatch News Service who lived in Laos for four years reports that in the three years before June, 1966, Laos's exports totalled $3,000,000 while imports totalled $108,000,000--an import-export ratio of 36 to 1. Recent government reports say that the ratio between 1964 and 1968 was 14 to 1. Other reports run as high...

Author: By Peter Shapiro, | Title: Hitchhiking Through Nixon's Laos | 1/20/1972 | See Source »

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