Word: pact
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Dates: during 1950-1959
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FRANCE, which last year signed its first commercial treaty with Russia since 1934 (TIME, Nov. 2), is feeling some of the headaches that go with Communist trade. In the first months of the pact, France shipped $6,300,000 worth of goods (mainly textiles, fruit, and iron and steel products) more than it received. Soviet shipments, notably of corn, are lagging, and its oil is of such poor quality that French refineries cannot turn it into gasoline at competitive prices without a government subsidy...
Yesterday's report of a U.S. defense pact with Japan adds emphasis to the pressing need for Japanese economic stability. While Premier Yoshida has steadied the political situation in that nation, Japan is now fighting a subsistence battle with its shaky economy. The slackening of United States purchases since the Korean war has left a large trade deficit. Food imports necessary to feed the population far exceed the export market for Japan's industrial output. For this reason, although quite strongly opposed to Russia, a hungry Japan might look more favorably toward Communist promises...
...matters European, the final week of the conference gave Russia's Molotov a dialectical drubbing that he would not soon forget. France's nimble Georges Bidault, whom Molotov tried hardest to woo, tore into Russia's plan for an "us Europeans" pact that would shove the U.S. out of Europe, and leave all of Russia in. Snapped Bidault: "Lake Baikal and Vladivostok are no more European than the Mississippi and Chicago...
Turkey and Pakistan agreed to sign a pact to achieve "closer collaboration in the political, economic and cultural spheres, as well as strengthening peace and security." Its real significance is that it will help forge the first link in a defensive cordon for the Middle East's northern perimeter (TIME, Jan. 18). Throughout the treaty negotiations, the U.S. maintained an attitude of studied indifference, making sure only that India's Nehru was kept informed of what was going on, so that he could not later cry treachery...
...conditions of the pact require that "undue strain upon players and coaches be eliminated and that they be permitted to enjoy as participants in a form of recreational competition rather than as professional performers in public spectacles...