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...World Bank and the U.S. Government's Export-Import Bank are doing their best to alleviate the capital shortage, but the aid falls far short of demand. Nor have private investors in the U.S. and Great Britain, traditionally major world exporters of venture capital, been able to supply the demand from overseas, especially since pressure for capital at home is greater than ever. Overseas, even in cases where investment opportunities compare favorably with those at home, a lack of political and economic stability and the threat of nationalization have acted as a deterrent...

Author: /time Magazine | Title: Prosperity's Demands Ration the Supply | 7/29/1957 | See Source »

...materials purchased outside the Common Market would cost Dutch manufacturers $84 million in the next five years. French authorities, plagued by a dangerously unfavorable balance of trade, gloomily decided that, for the time being, they would have to disregard the fundamental principle of the Common Market, and temporarily restored import quotas on about 2,000 items that France buys from her European trading partners...

Author: /time Magazine | Title: WESTERN EUROPE: Stocktaking | 7/22/1957 | See Source »

Pemex is still inefficient, with 40,000 employees doing work that could be handled by 30,000. Graft and nepotism still creep in. Pemex must import $70 million worth of high-grade petroleum products yearly (but exports $45 million worth of crude oil plus some refined products). Its reinvestment rate is not high enough for any truly spectacular progress. But Bermudez does not propose to sacrifice Pemex welfare trappings in risky gambles on fast development. The success to date, he believes, plentifully fulfills Pemex' motto: "For the service of the nation...

Author: /time Magazine | Title: MEXICO: Serving the Nation | 7/22/1957 | See Source »

WEST GERMAN INFLATION will be eased by 25% tariff cut designed to spur import of low-cost foreign goods, trim West Germany's $4.95 billion gold and foreign-exchange reserves, which are mounting at rate of $1 billion a year. To tighten domestic money supply the Bank Deutscher Laender (the government's central bank) will also lend $100 million to World Bank at terms of from one to three years at 4¼% interest...

Author: /time Magazine | Title: Time Clock, Jul. 22, 1957 | 7/22/1957 | See Source »

...splinter companies of the war-racked Farben trust started working from the moment the shooting stopped. Bayer got the first postwar production permit in the British occupation zone, and the other Farben companies rushed to follow. The market was enormous, since Germany had no money to import such vitally needed products as drugs, fertilizers and dyes. To replace the plants and patents lost to the Allies, the companies plowed back 20% of their sales into buildings and research. B.A.S.F., for example, has applied for 3,900 new chemical patents since the war, now bases only 200 of its thousands...

Author: /time Magazine | Title: BUSINESS ABROAD: The Heirs of I. G. Farben | 7/22/1957 | See Source »

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