Word: malaya
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...Russian dumping knocked the price down to 75?. Gradually the world price inched back to $1.20, which is just about what it costs the industry's many marginal operators to produce tin. But recently the price sank to a low of $1.03, and for this the producers-in Malaya, Indonesia, Thailand, Bolivia, Nigeria and the Congo-blame the U.S. Reason: the U.S. announcement last fall that it would sell off 50,000 long tons of tin from its overloaded strategic stockpile of 341,000 tons. Those 50,000 tons are almost one-third as much as the free world...
...users of tin (for cans). Equally persistent are contrary rumors that the U.S. will set a high price because it paid relatively high prices for the stockpiled tin and does not want to lose money. The U.S. has another good reason to keep prices up: tin-producing nations (except Malaya) are among the biggest recipients of foreign aid, and a drop in their incomes would inspire demands for more...
Leading the rubber planters in the difficult transition is Sir John Hay. 74. who is known in Malaya as a hard Scot with a soft streak. The last of the colonial tuan besars (big sirs). Sir John has been a dominant figure in the rubber world for almost half a century. The eleven plantations of his Guthrie Estates Agency Ltd.. totaling 200.000 acres, are the most advanced in Malaya...
This kind of partnership for productivity has paid healthy dividends. Three years ago, Malaya displaced Indonesia−which had nationalized its rubber plantations−as the world's biggest producer of natural rubber. Last year, producing more than a third of the world's natural rub ber, the Malayan plantations brought in a fourth of the new nation's income. Be cause of rubber, Malayans enjoyed a high (for Asia) per capita income of $113, v. $40 for neighboring Indonesians. And because of this strong economy, Malaya may well be able to expand. Last week Britain agreed...
Synthetic Threat. For all his dedication to rubber. Sir John has been a leader in the move to diversify Malaya's economic base and has planted tea and palms (for oil) on one-fifth of Guthrie's acreage. "Malaya's heavy reliance on rubber is the weak plank in its economy," he says...