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Tied Hands & Feet. He took a trip around the world, telling anyone who would listen of the injustices suffered by Cambodia under the French colonial system. Said he in Manhattan: "In economic matters they have our hands and feet tied; we cannot import and export freely and we have no freedom of taxation. Our police cannot touch them." The French insist on taking Cambodian troops under their command, said Norodom, and he warned: "If we have an invasion of the sort that Laos has suffered recently, I am not at all certain that I can call for a general mobilization...
...Because of Me." He scraped along for a few years with a small import-export business, then in 1934 got into munitions. He managed to talk the National Bank of Greece, which held control of the Greek Powder & Cartridge Co. and wanted to sell it, into lending him enough ($500,000), to buy its share of the company...
Intolerable Conditions. Many sad confusions result. Desiring foreign capital investment, the Indonesians devise intolerable conditions for its operation. They launch a reconstruction program, then impose heavy tariffs on the tools of reconstruction; a health program, but ban the import of X-ray films; an education drive, then double the import duty on school textbooks. Rather than have their army trained by Western military experts, they would have it untrained...
...joint commission in Rio to pass on rail, electric power, and other projects suitable for development loans. In the spacious cordiality of the hour, U.S. officials predicted that the joint commission's work would bring Brazil from $350 to $500 million in loans from the U.S. Export-Import Bank and the World Bank. Last week, with only $122 million in such loans granted, the U.S. prepared to wind up the commission and send its members home...
...They also helped make clear that, in the U.S. view, the basic question is not really whether Brazil should get development loans, but when. The Vargas administration would naturally like to start some badly needed projects right away. But Washington-notably the World Bank, which is supplanting the Export-Import Bank as the primary lending agency - feels that Brazil must strengthen its currency, wipe out its trade deficit, and check credit inflation before it can take on any more debt, even for the worthiest of projects...