Word: reportedly
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Dates: during 1950-1959
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...Louvre Museum." While France is considerably less than she was 24 years ago, the Louvre is still the top. Last January, over lunch in Manhattan with visiting Louvre Chief Curator Germain Bazin, TIME editors began laying the groundwork for a comprehensive report on the Louvre and its great collection, to be keyed to a two-volume study of the museum being published this year. Photographer Eric Schaal was sent from Switzerland to take color photos of the Louvre masterworks, found himself up against rigid regulations limiting photographers to two lights (of not more than 250 watts) at a distance...
...foundations for a foreign economic policy is a reciprocal trade broadening of pacts. The report goes much further than the reciprocal trade bill passed last week by the House, wants the program to be made a permanent part of national policy, with broader presidential powers and a reconsideration of such hobbling provisions as escape clauses and peril points. To answer protectionists, the report points out that 4,500,000 U.S. workers depend directly on foreign trade, contribute to a trade surplus of $6 billion a year. While "it is unavoidable that some of our imports will compete with segments...
...countries that depend heavily on one commodity for income, the report has some concrete suggestions to ease the blow when commodity prices fall. It suggests 1) a system of international credits to keep up the purchasing power of a hard-hit nation until prices recover, and 2) a "ceiling" and "floor" 10% above and below the average price of a commodity in a previous year, to mitigate wild fluctuations of commodity prices...
Again and again the report stresses the importance of private capital investment, which is twice the volume of U.S. aid. "The driving force in a free country comes from the initiative, imagination and willingness to assume responsibility on the part of innumerable individuals." To date, underdeveloped countries have neglected private capital. To encourage it, they must stabilize their currencies, check inflation, provide tax incentives to ensure that profits can be commensurate with risks. The U.S. could also provide tax incentives for the U.S. investors, extending the 14% reduction in corporate taxes enjoyed by companies investing in the Western Hemisphere...
Many of the tools, such as loan funds and technical assistance, needed to expand trade, says the report, already exist in United Nations agencies or bilateral agreements. But, the panel notes, they must be more fully implemented. The U.S. must provide more personnel to foreign nations, step up the spread of U.S. know-how, thus show the world an enthusiastic response to the economic challenge...