Word: marketing
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Dates: during 1950-1959
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...ousted King Farouk's abandoned yachts. A glittering new Shepheard's Hotel, to replace the old one burned by antiforeign mobs back in 1952, was ready to open its doors again to foreign spenders. The Egyptian cost of living had momentarily ceased its steady climb; the stock market was active, and toll money from a once-again busy Suez Canal was pouring into the national treasury. A prospective purchase of $35 million worth of cotton by France gave a needed boost to the export balance. The government announced a budget surplus of nearly $55 million...
...other Europeans had been dreaming even headier dreams. Spurred on by France's Jean Monnet and Belgium's Paul-Henri Spaak, six Western European nations (France, West Germany, Italy and the Benelux countries) early this year finished drawing up treaties to establish both a European Common Market and a European Atomic Energy Community (TIME, March 4). The first of these promised to create within 15 years a single West European market, comparable in size to the continent-wide U.S. market, with free trade within and a common customs barrier against the outside world. The second treaty, by pooling...
Last week, only a day after it passed the anticartel law, West Germany's Bundestag ratified both the Common Market and Euratom Treaties. The next step is approval in that graveyard of European aspirations, the French National Assembly. Last week, as the French Assembly moved into the final stages of debate on the two treaties, attendance was scant-at one point only 18 Deputies were in the chamber-and the sole outburst of passion occurred in the parliamentary bar, where insulted Communists felled an aggressive right-wing Deputy with a broken beer bottle. Cynics blamed the apathy...
...capital goods is imported, and paid for with agricultural exports, this could have only one consequence. "In import plans," Po went on blandly, "major reductions have been made in the amount of general machinery and transport equipment, to provide incentive to our own machine-building industry" (a cautionary market tip for those who think trade with Red China will amount to much...
...imports from the U.S. of 15% ($625 million a year). Canada would make up the difference-"mainly capital goods"-from Britain instead. With Canada's wheat surplus ripening into his worst domestic worry, Diefenbaker also attacked U.S. wheat export "giveaways," which insist that importing countries guarantee "certain fixed market commitments for the future." He called the U.S. policy a "definite contravention" of the General Agreement on Tariffs and Trade (GATT...