Word: imported
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...rising challenge of bargain-priced foreign imports has sparked a profound-and controversial-change in the strategy of many U.S. businesses. To meet the competition, hundreds of U.S. firms are going abroad to manufacture or buy products to sell in U.S. markets. Already U.S. firms import or manufacture overseas an estimated $1 billion worth of products each year for U.S. customers-and the trend is growing fast...
...schoolmaster who had graduated summa cum laude from Manila University and served as Magsaysay's budget commissioner. "What do you think about graft and corruption?" he asked. When Aytona bluntly replied that reform was necessary, Garcia named him Secretary of Finance, in charge of customs, internal revenue and import licensing-the three major areas of political gravy...
...government of $65 million last year - enough to pay for a year's educa tion for 1,000,000 Filipino children. His biggest reform was to institute a "con trolled decontrol" of the peso designed to create a free currency market within four years. Under his new regulations, import ers of "essential goods" get their dollars at more favorable rates than those who bring in Cadillacs and air conditioners...
...entire Western world are British." Export, or Else. Although Britain's economy is booming and exports last year reached a record $9,676,800,000 (v. $6,317,000,000 in 1950), Britain faces serious dollar difficulties. Last winter the government relaxed the last major restrictions against dollar imports, and since then, British merchants have been buying from the U.S. at a record clip. In the first quarter of 1960, U.S. sales to Great Britain are up 61%. But British sales to the U.S. are up only 14%. Great Britain has opened a drive to increase sales...
...IMPORT QUOTAS were cut by Interior Department from present 1,600,566 bbl. a day to 1,377,674, beginning July 1. Imports of oil used mainly for ship and factory fuel were reduced by nearly 50% for Eastern U.S. after pressure by coal...