Word: importent
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Dates: during 1970-1979
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...sheer stagecraft. Treasury Secretary John Connally's stopover in Japan last week rivaled a Kabuki drama. Two weeks before his arrival, rumors began emanating from the U.S. and Japan: in exchange for lifting the American import surcharge, Connally would demand that Japan revalue the yen upward by 15%, reduce the number of color television sets, automobiles and other big-selling items it ships to the U.S., pay part of the cost of keeping U.S. forces in Japan and drop trade barriers against U.S. farm goods. The Tokyo press started referring to the Secretary as "Typhoon Connally...
...than the council had intended when it recommended such meetings as a way for the bishops to have a continuing voice in church developments. Today's synods, unable to exercise any real power of their own, merely advise the Pope of the bishops' thinking on subjects of import. This time the subjects were of import indeed: the crisis in the priestly ministry and the church's role in bringing peace and justice to the world. But the results reveal all too clearly the high cost of the bishops' lack of power. Despite flashes of fine intention...
...work of art that manages to capture a sense of the immediate and face it with an intellectual conception of general import requires artistic skill, discipline and sensibility of the highest order. This doesn't happen often, but when it does we are reminded of what Hollywood seems never to have learned: that politics is not a stranger to art, but at the very center of man's struggle with himself and his society...
...investors' worries are considerably overdone, however, they are not without foundation. Wall Street justifiably shows more concern than Washington about the Administration's new mercantilism. "We may hang on to the 10% import surcharge longer than we should and touch off a trade war," says Robert Johnson, economist for Paine, Webber, Jackson & Curtis, a big brokerage house. "It could lead to a worldwide recession, and that worries me more than anything." Domestically, adds Richard Johnson, president of Dreyfus-Marine Midland Management Corp., the economy is going through "sort of a limbo period." Analysts are still waiting...
Apart from these difficulties, manufacturers have had trouble buying enough double knit machinery; practically all of it is made in Europe, especially West Germany, and orders have to be placed many months in advance. This problem has been aggravated by President Nixon's import surtax. Ironically, the most promising sector of the staunchly protectionist textile industry is now being forced to pay at least 10% more for its new equipment because of the Administration's protectionist measures...