Word: marketing
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Dates: during 1960-1969
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Reverse Image. One reason for Germany's trade prowess is that its export prices have remained essentially the same since 1964, while those of the U.S., Britain and Bonn's five Common Market partners have increased by an average of 7 %. If Bonn were to peg the obviously undervalued mark at a higher price, it would relieve the competitive imbalance by making German exports more expensive and imports cheaper. Schiller, who still hopes to avoid revaluation, predicts that various other measures will help pare West Germany's trade surplus to $3 billion this year. Even that...
When Communist rioters swirled through the streets of Hong Kong in 1967, the business community trembled on the edge of chaos. The local stock market dropped to a modern low; bank deposits plunged; tourism dried up. Nearly 1,000 businessmen made inquiries about shifting to Taiwan or Singapore. But peace returned-and so did prosperity. No businesses actually moved out. Despite the monumental inconveniences caused by what is now euphemistically called "the disturbances," 1967 turned out to be Hong Kong's best export year until then, and 1968 was even better in every respect. Last week, as it celebrated...
Tunnel to the Island. With an economy more heavily dependent on exports than any other in the world, Hong Kong increased sales to foreign customers in 1968 by 26%, to $1.4 billion. Bank deposits climbed 20%. The stock market reached an alltime high. Tourism soared as 618,000 visitors spent $160 million and 200,000 U.S. servicemen on R & R left behind another $60 million...
...Washington's battle against price rises intensified, Wall Street last week finally seemed to get the message. After meandering since January, the stock market suffered its worst weekly loss in 21 years. The Dow-Jones industrial average declined by 35 points, to 917-the lowest level since last September. On the New York Stock Exchange, declines outnumbered advances by 3 to 1. On the American Exchange, prices dropped by an average of 5%. The slide continued until the four-day trading week, abbreviated for Washington's Birthday, ended mercifully on Thursday...
Fever Symptom. The public and the professionals also seem increasingly uneasy about the "tone" or "quality" of the market. The much publicized mess in the back offices of brokerage houses, which are tangled in paper, has done little to inspire confidence in the effectiveness of Wall Street's management. , In addition, the fast rise of prices of new issues, many of which have climbed to premiums despite meager or non-existent earnings, is a symptom of dangerous speculative fever...