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...pilots. Amid fireworks, throngs hurried to the fairgrounds on Gezira island, wandered through airy pavilions and outdoor exhibits crammed with Egyptian-made products, including Fiat cars, five-ton trucks, Ma Griffe perfume and Odorono deodorant, all locally manufactured under license. As a nation that a decade ago had to import even matches, Egypt could feel proud of real progress...
...Premier's demands, but did not. While the ministers argued over the budget (two even came to blows), the financial crisis deepened, partly as a result of Amini's realistic reforms. The Treasury lost a major source of revenue after a ban on foreign luxury goods reduced import duties to almost zero; the punctured inflationary balloon resulted in a recession...
...huge hoard of gold and dollar reserves is dropping. West Germany recently moved from a fat surplus to a small deficit in international payments, and the surpluses of Belgium and Switzerland are declining. And in a time when everyone talks of expanding markets, Japan has clamped on import controls and Canada has raised many of its tariffs from 5% to 15% in an attempt to bolster its sagging dollar. It seemed that almost all countries were attempting to improve their trade balances and reserves at the same time...
...grain in sterling, and Australia has bought relatively few Chinese products in return. B. F. Hsu, chief of the Red Chinese trade mission currently in Australia, wants to change all that. "We have helped Australia a lot by taking your grain," says Hsu. "Now we want you to import our textiles, minerals and toys...
This week Idemitsu will preside over the launching of the world's biggest tanker, a 131,000-tonner, which he plans to use as a "floating pipeline" to import oil from the Middle East. His blushing daughter Junko will swing the champagne bottle, but since the huge ship is too bulky to slide down the ways, water will be let into its massive drydock until it is afloat. The new tanker's name is Nissho Maru, which means "Rising Sun," and at the launching there will be banzais all around...