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...Wilson waits much longer to call an election, many of the longer range problems which he has avoided so far will come into play. The improvement in Britain's balance of payments has resulted from special restrictions--the import surcharge and tax measures--which are decreasing in effectiveness. To generate further improvements, the government has embarked on a policy of deflation--cutting public investment and tightening the credit squeeze. But even if this policy temporarily spurs exports by making British goods more competitive on world markets, it will not deal with the real cause of Britain's economic dislocation...

Author: By Richard Blumenthal, | Title: The Indispensable Election | 11/10/1965 | See Source »

Shoes & Scotch. What foreign goods do Americans hanker for? U.S. companies, of course, have their own special needs; the fastest-rising major import so far this year is steel, which has risen 68% to $864 million. But consumer goods account for a full 40% of imports, include some of the sharpest gainers. The U.S. demand for Italian shoes, Pucci pants and British woolens has lifted imports of clothes and tex tiles this year by 18%, to $853 million. Purchases of leisure goods-German toys, Japanese baseball gloves, French musical instruments and the like-have risen 20%, to $187 million. Electrical...

Author: /time Magazine | Title: Trade: Shrinking Surplus | 11/5/1965 | See Source »

...import spurt would be easier to tolerate if exports were keeping pace. Export growth has been stunted by several factors: dock strikes in the U.S., the slowing of business expansion in Europe and Japan, Britain's 10% sur charge on imports, and the worldwide plunge in commodities prices, which the underdeveloped nations depend on to earn foreign exchange. And, despite denials from U.S. officials, many businessmen suspect that the "voluntary" cutback of U.S. loans abroad has also hurt the nation's exports by drying up dollars in Europe...

Author: /time Magazine | Title: Trade: Shrinking Surplus | 11/5/1965 | See Source »

...cast could handle a senior-class play. Instead of drawing from the pool of New York's unparalleled acting talent, Lincoln Center has chosen to import too many of the San Francisco minor-leaguers of Irving-cum-Blau. All this grandiose amateur night lacks is the famous gong of Major Bowes...

Author: /time Magazine | Title: Theater: Amateur Night | 10/29/1965 | See Source »

...month high in June and were a major factor in the 2.2% rise in wholesale prices during the year's first half, dropped in August for the second straight month, thanks to a bountiful harvest and beneficent weather. Steel demand tapered as the strike threat faded, and import competition remained stiff, serving to dampen any inclination toward rises in basic steel prices. Industrial investment this year will scale an alltime peak of $50 billion; that will expand capacity and reduce pressure on marginal plant. One powerful psychological brake to inflation: General Motors' decision to hold the line...

Author: /time Magazine | Title: Prices: No Inflation | 10/1/1965 | See Source »

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