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...Life. All in all, there does not seem to be much cause for gagging. Rhodesian farmers are rapidly diversifying their crops so that the country will no longer need to import such staples as wheat and soy beans. Despite the worldwide oil embargo, Rhodesia gets all the oil it needs from its good friend-and embargo breaker-South Africa. It also keeps its export market alive through agents in South Africa, in the Portuguese colonies of Angola and Mozambique and in the black African nation of Malawi (see following story). The Rhodesian pound may have been declared worthless on world...
...factories have been enlarged and diversified, and a government incentive program has already encouraged the building of 240 new plants, half of them now in operation. The result is that Rhodesia is well on its way to producing at home almost all of the goods it once had to import...
...familiar figure in Manhattan nightspots in the '30s. When he was named chairman of the New York Stock Exchange in 1938, President Roosevelt told him: "Your job is the worst in the world-next to mine." After leaving the exchange, Martin served as president of the Export-Import Bank, then as Assistant Secretary of the Treasury. He was named chairman of the Fed in 1951 by Harry Truman-no fiscal conservative...
Like Britain's deflationary freeze, Israel's mitun was designed to right a lopsided economy living far beyond its means. Fueled by inflationary wage increases along with a demand for foreign TV sets, autos and other frills that Sapir calls sheer "gluttony," Israel's imports until recently have soared far beyond its exports. So large is its trade deficit that the Israeli pound is threatened with devaluation. In an effort to stave off that embarrassment, Sapir moved to cut consumption by raising import duties and holding down wages. He also tried to force more workers into crucial...
Shopping Around. With their overseas push barely under way, the Japanese are fearful that other countries' automakers, particularly Detroit, will soon try to return the compliment in force. So far, a foreign invasion has been held off by high (up to 40%) auto-import tariffs and a stiff capital-investment law that limits foreign ownership to 50% of any new venture and 15% of any existing Japanese firm. Japan is under strong world pressure to ease that law, and Ford is said to be shopping around for permanent residences...