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...industrial output will jump only 4.5% instead of the much-heralded 15%. Worse yet, "because China's agriculture is still lagging behind the needs of the people," exports of foodstuffs will be cut 22% this year. Since the bulk of China's capital goods is imported, and paid for with agricultural exports, this could have only one consequence. "In import plans," Po went on blandly, "major reductions have been made in the amount of general machinery and transport equipment, to provide incentive to our own machine-building industry" (a cautionary market tip for those who think trade with...

Author: /time Magazine | Title: RED CHINA: Starving to Death | 7/15/1957 | See Source »

...airports and missile bases by ground teams. ¶To reduce the likelihood of brush-fire wars spreading into world conflagrations, some reductions in total manpower and armaments by the major powers (e.g., U.S. and Russia to 1,700,000 men apiece), plus inspections and bans on the import and export of arms, and checks on troop movements. European nations have worried lest the U.S., by nuclear disarmament alone, might leave them defenseless against Russian superiority in "classical" arms...

Author: /time Magazine | Title: DISARMAMENT: Dueling Code | 7/8/1957 | See Source »

JAPAN'S FINANCIAL PINCH will be eased by $175 million loan from U.S. Export-Import Bank to be used to buy U.S. farm goods without draining low Japanese dollar supply. With the credit Japan will import U.S. cotton, wheat, barley and soybeans, for which it is No. 1 foreign customer...

Author: /time Magazine | Title: Time Clock, Jul. 8, 1957 | 7/8/1957 | See Source »

...IMPORT PROBE will get going as soon as Government finds three top-level executives outside oil industry willing to conduct it. Former U.S. Steel Corp. Chairman Benjamin Fairless turned down chairmanship of commission that will determine what amount of low-cost foreign oil U.S. can buy without discouraging domestic exploration, production...

Author: /time Magazine | Title: Time Clock, Jun. 24, 1957 | 6/24/1957 | See Source »

...Monastery. Angrily, Sihanouk summoned a meeting of the Central Committee of his Sangkum Party, which controls all 91 seats in the National Assembly. Sihanouk listened, near to tears, while official after official accused Sam Sary of giving import licenses to the wrong people, i.e., someone else. The criticisms, said Sihanouk, were "unjustified." Nevertheless, because they could "be construed as casting a shadow over the reputation of the Sangkum Party," His Royal Highness forthwith annulled all import licenses...

Author: /time Magazine | Title: CAMBODIA: Tearful Times | 6/10/1957 | See Source »

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