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Foreign governments resent this artificial advantage-and none more bitterly than the U.S. Government, since the country has run a deficit of more than $1 billion in each of the past two years in trade with Japan. That irritation is fanned by the thought that Japan is largely insulated from the natural financial pressures that have forced increases in other undervalued currencies. Treasurers of international corporations and money speculators cannot pour funds into Japan-as they did into Germany last month when they correctly expected the mark to rise-because the Japanese government tightly controls the exchange...

Author: /time Magazine | Title: JAPAN: A Yen for Revaluation | 6/7/1971 | See Source »

Should Lockheed get special treatment? Surprisingly, there is little support in the aerospace industry, except from Lockheed itself, for the loan guarantee. Lockheed's rivals resent the Government's supporting a company that they believe has been grossly mismanaged-a high-cost, undercapitalized producer. Aerojet-General President Jack H. Vollbrecht contends that help for Lockheed would mean that "if you fail big enough, you don't fail...

Author: /time Magazine | Title: Business: Should Lockheed Be Saved? | 5/31/1971 | See Source »

Minute-by-Minute. Michener's book, at one level, is a plea for concessions between generations. Noting that most of those calling for more bloodshed were women, he finds a sexual basis to much of the conflict. Women resent the bra-lessness and supposed bed hopping of today's coeds. Men seem to envy a sexual freedom they did not know as youths. Nothing quite so enraged Guardsmen, Michener claims, as the middle-finger gestures of Kent girls, their obscenities, their appearing naked at dormitory windows to invite the troops to "make love...

Author: /time Magazine | Title: Books: Outer Darkness | 5/3/1971 | See Source »

...into a severe backlash in Britain. The Prime Minister and his Conservative Party remain committed to seeking EEC membership, but the British public is less enthusiastic. Food prices would rise 26% after entry, pushing up the cost of living an estimated 4% to 5%. Many Britons also resent the EEC's implied surrender of sovereignty. Public-opinion samplings indicate that 66% of those questioned oppose British entry, and 82% believe that the issue should be submitted to the voters as a referendum...

Author: /time Magazine | Title: The World: Showdown Ahead | 4/26/1971 | See Source »

Aesthetics or Polemics? At this point a split became apparent among the black artists themselves. While the B.E.C.C. was protesting that the organization of the show was not black enough, some of the best-known black artists in the U.S. began to resent the prospect of being shut in a purely black context, as if they were anthropological specimens. They pulled out. Among them were Richard Hunt, Mel Edwards, Daniel Johnson, William Williams, Joe Overstreet and Sam Gilliam. Says Johnson, who happens to be an abstractionist: "From the outset of the show, we felt it was going to be disastrous...

Author: /time Magazine | Title: Art: In a Black Bind | 4/12/1971 | See Source »

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