Word: imported
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Prebisch is worried most by the growing "trade gap" between what is bought and sold by the poorer nations -in Latin America, Asia, Africa. From 1950 to 1960 their share of world trade declined from 30% to 20%, and their imports expanded much faster than their exports. On top of that, a world commodity glut held down prices of their exports-mostly food, fuel and fibers-while prices rose for the increasingly complex machines that they import. Because of the switch to synthetic goods and new efficiencies in manufacturing, the industrial nations are buying relatively less natural rubber, textiles...
...month tourist auto permit had expired a few days ago. And that meant Anna Moffo's air-conditioned Lincoln Continental, with built-in bar, had to be impounded by Italian customs. She can get it back any time-by paying a $5,000 fine, a $5,000 import duty and a $10,000 redemption fee. But since the car cost only $9,800 new, the American operatic soprano is having none of it. "I'm planning not to pay one lira of that fine," she told reporters. "I've got lawyers working...
Distressed Dialect. To the rescue came "The Birdman of The Hague," Zoologist Johann D. F. Hardenberg of the Ministry of Agriculture's fauna department. Called in by the Air Force and Amsterdam's airport, Hardenberg's first move was to import an American invention, a loudspeaker playing the tape-recorded distress calls of American herring gulls. It was an imaginative effort, but it did not work. Dutch herring gulls apparently speak a dialect all their own and are not alarmed by the screams of their American cousins. When Dr. Hardenberg recorded distressed Dutch gulls and a Jeep...
...POLAND. Poland is the sick man of Eastern Europe. The country has mammoth debts abroad, and practically no money to pay them with. Overcentralization of planning and overemphasis on heavy industry have reduced its already weak economy to a shambles. Poor harvests and poorer planning have forced it to import huge amounts of grain, thus dangerously depleting its foreign currency reserves. Typical of Poland's plight is the condition of its national airline, LOT, which is being gradually grounded by a bizarre price structure, antiquated equipment, and the failure of Russia to come through with promised modern planes...
...Europe's ailing steel industry, already plagued by overcapacity, has been seriously jarred by a recent invasion of cut-rate steel from Japan, Austria, Britain and the Iron Curtain countries. Since the Common Market's steel producers have the right to align their prices to the lowest import offer, they have cut them to unprofitable levels to meet the new competition...