Word: pact
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Dates: during 1960-1969
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Peking's lure to Japan is trade-described in the oft-repeated phrase "600 million new customers." From the past record, the Japanese should know that Red China is interested in politics, not business. Two years ago, Peking unsuccessfully tried to use a $196 million trade pact as a lever to secure diplomatic recognition. When the Japanese government stubbornly withheld recognition, the Chinese peevishly broke the pact and flooded Japan's Asian markets with cut-rate textiles and consumer goods. But the Chinese bait is nonetheless as enticing to many Japanese as is the Russian talk...
...prospects are slim for much auto business (yawned the Montreal Star: "Coals to Newcastle"), but they do think that Prokhorov's fellow traveling salesmen, Sergei Vishnyakov (foodstuffs and beverages) and Ivan Markelov (musical instruments, watches, toys), might have better luck. Under Canada's 2-to-1 trade pact with Russia signed last April, for every $1 worth of business the Russians drum up on their four-week tour. Canada stands to gain $2 worth of export sales...
...earliest meetings of the North Atlantic pact, Paul Henri Spaak provoked a good deal of laughter by rolling an orange along the conference table to soothe an angry and hungry Sir Stafford Cripps. The idea that prompted him has become a tradition in NATO negotiations: on the ability of its members to settle their differences quickly and without rancor depends the happiness and security of the West...
Some such device, admittedly, grows increasingly necessary as other splits develop within the pact. Great Britain, as the leader of the seven-nation European Free Trade Area, is becoming profoundly uncomfortable with the other economic axis, the "Inner Six" Common Market. The curious position of the Outer Seven's neutrals, the recent hardening of the Six' common tariff wall, and London's own indecision have, over the last year, made it more and more difficult for Britain to associate the Seven with the Common Market even if it should want to. Possibly the U.S. could use the Organization for European...
...have no terrors of binding strings that they feel are often attached to unilateral aid. The U.N. Special Fund (under Paul Hoffmann) and Eugene Black's International Bank for Reconstruction and Development have been nearly paragonally tactful as well as helpful. To these, as well as to the Colombo Pact and the new International Development Association should go an increasing amount of the U.S. foreign aid budget. The bulk, of course, must still be handled from Washington, unless Kennedy can persuade the NATO countries, who are expected to contribute a good deal to the mutual security coffers in the future...