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...American industry's chief policymaking body on foreign-trade matters. Long a figure in international trade, Pierson, a Harvard-trained lawyer, is a past president of the International Air Transport Association, served on the Tripartite Commission unscrambling German debts (TIME, Aug. 18), and was president of the Export-Import Bank for ten years. He is a firm believer in "two-way trade, not oneway...
...cooperation with the U.S. Export-Import Bank and private interests in Latin American countries, I.H.C. also has an ambitious hotel-building program underway. Scheduled to open next fall, in time for the projected Inter-American Conference of Nations, is Caracas' $7,000,000, 400-room Tamanaco. Bogotá's 400-room Tequendama and Maracaibo's 150-room Del Lago, opening later in the year, will finally give those cities first-class hotels ; and the 600-room Copan, due to be completed in 1954, will help fill the urgent need for more and better hotel accommodations in booming...
...nationalization act, say Bolivia's superheated nationalists, was equaled only by the necessity for it. Determined to assert the fact of their nationhood, they are willing to risk biting off the hand that feeds them. Tin pays for 50% of the food that they must now import from abroad. It is the foundation of their teetering economy, source of 80% of their foreign exchange and almost half of their government revenue. And for years Bolivian tin-and Bolivia itself-has been dominated by the three expropriated companies: Patiәo, Hochschild, Aramayo...
...Fords and Cadillacs. Government officials, demanding emancipation from the tyranny of tin, urge Bolivians to look eastward to the regions where the Andes fall away in giant green gorges called yungas to the Amazonian jungles and Chaco plains. With the aid of a $26 million U.S. Export-Import Bank loan, Bolivia hopes to finish a highway linking the mountain cities with Santa Cruz, capital of the plains, by late 1953. Brazil and Argentina are busy building railroads across the Chaco (see map) to open the area to the Atlantic. Bolivian nationalists, sponsors of a "March to the East," talk paradoxically...
...dusk on a drowsy Sunday, reporters filed hurriedly past the guards at the Atomic Energy Commission building in Washington for a special announcement. The announcement was muffled in the AEC's usual cautious language, but its import was still overwhelming: the U.S. has succeeded in a test explosion of a hydrogen weapon in mid-Pacific...