Word: marketing
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Dates: during 1940-1949
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...coal at the pre-devaluation rate. If Germany insisted on raising the export price of coal, then, François-Poncet insisted, the price of inland coal in Germany must also be raised; this would make Germany's steel and other fabricated articles more expensive in the export market...
...devaluation of the British pound also hit the Italian lira. The Italian cabinet had decided not to devalue the lira, which had already been drastically devalued two years ago, but to let it find its own level on a more or less free market. Forthwith the lira fell from 630 to more than 700 to the dollar. The Communists thereupon challenged Premier Alcide de Gasperi's government to parliamentary debate...
...Washington after the pound devaluation, Pella had negotiated to convert into gold some of Italy's dollar reserves, accumulated through exports by Italy's hard-working industry. The U.S. had sold him the gold at $35 an ounce (the open market price in Italy is about $50). Gold now backs 17% of Italy's currency. Technically, the difference between gold reserves and dollar reserves is not great, but psychologically Pella's stroke worked. Impressed, the Chamber of Deputies gave the government a two-to-one confidence vote...
...week's end, the lira rallied at 688 (free market rate) to the dollar. Commodity prices showed no signs of rising. The Italian government had clearly won a round in the battle of the lira...
...thriving town of 6,000 in the Red River delta, only seven people and one church were left when the French took it from the Communists last November. When I visited Sontay last month, it was largely rebuilt, 5,000 of its people had returned, and in its bustling market, cheerful, slim-hipped women were buying everything from mangoes to Chanel...