Word: imported
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...Most of all, Britain needs a bigger, more dynamic market than the Commonwealth, in which fewer than 90 million citizens have any real purchasing power. Even Australia, Britain's best Commonwealth customer, has a population only slightly larger than Paris and Rome combined. Despite high tariffs on British imports, Europeans already have a healthy appetite for marmalade and Jaguars, Wedgwood china and Scotch whisky (which chic Frenchmen fancy in le long drink}. British sweaters and men's shoes, chocolates and cloth-but not what Parisians call "weedytweedy"-also rate high with Continentals. The British, in turn, have...
Indeed it did-and to Americans as well. Growled Republican Congressman William Avery of Kansas: "Wichita has an abundance of skilled labor available, but I hardly believe we need to import Japanese capital and ideas to utilize it." In Washington, red-faced Administration officials hastily set the record straight. Nihon Keizai had built its overblown story on brochures that the Commerce Department sent last March to U.S. embassies in Europe and Japan. They were part of a campaign to attract more foreign investment to the U.S. as a way to alleviate unemployment and the balance-of-payments deficit. Though...
Last year when the deficit-ridden Venezuelan government slapped on tight new import curbs to protect its dwindling supply of dollars, the prospects for many a foreign firm doing business in Venezuela looked bleak indeed. The industrial giants with major markets in Venezuela could vault the new import wall easily enough by building Venezuelan plants-as Ford Motor Co. and several others have already done. But for foreign firms whose Venezuelan sales were too small to support a separate factory, another export market seemed about to go glimmering...
INSA is the brainchild of its burly, personable president. Engineer Roberto Salas Capriles, 37. Salas, a onetime professor at Venezuela's Central University, became convinced three years ago that import restrictions were inevitable in Venezuela, and set about signing up U.S. manufacturers for his scheme. The majority of INSA's stock is held by Venezuelans, but 30% of the company's initial $2.250,000 capital was put up by the Rockefeller-backed International Basic Economy Corp. To help INSA get started...
...Export-Import Bank has lent it $1.5 million, and the Venezuelan government (which stands to save $3.3 million a year in foreign exchange through INSA's operations...