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...have to permit some nonessential industries to be overwhelmed by foreign competition. Washington at present has no overall policy, but tries to tackle trade problems one by one as they pop up. A sensible step would be to accept the Japan Textile Federation's unilateral offer to restrict cloth shipments to the U.S. It is absurd for the U.S. and Japan to squabble fiercely over textiles, because that industry is not vital to the economy of either nation. Simultaneously, the U.S. could crack down harder on dumping in several industries, perhaps by flatly embargoing shipments, though it would be much...

Author: /time Magazine | Title: Business: Japan, Inc.: Winning the Most Important Battle | 5/10/1971 | See Source »

...effect allows Americans to deal in China on nearly the same basis as in the Soviet Union. The decision was actually made two weeks ago, but the timing of its announcement was decided by events. The President said that the U.S. would welcome visitors from China, abolish currency restrictions for American businessmen dealing with that country, allow U.S. companies to provide fuel for ships and planes traveling to China, and authorize American ships and planes to carry Chinese cargoes and American-owned foreign flag ships to call at Chinese ports. He also disclosed that the Administration is drawing...

Author: /time Magazine | Title: The World: The Ping Heard Round the World | 4/26/1971 | See Source »

What Mills did was to undertake his own negotiations with the Japanese government and textile industry. Succeeding where the Nixon Administration had failed in two years of formal talks, Mills persuaded the Japanese to declare that they would unilaterally restrict their textile shipments to the U.S. If the deal had stuck, it could have stopped a congressional drive to legislate mandatory import quotas on textiles and many other foreign products. But the Japanese offer did not satisfy Nixon's Southern supporters in the textile industry, and some White House aides were incensed by what they saw as Mills...

Author: /time Magazine | Title: Business: Nixon v. Mills: Showdown on Trade Policy | 3/22/1971 | See Source »

...Until 1962, all Commonwealth citizens had the right of unrestricted entry to Britain. At that time, however, 274,000 West Indians, 127,000 Indians and 78,000 Pakistanis were already living in Britain-a nearly tenfold increase since 1951. The public and politicians alike were growing alarmed. To restrict immigration, the Tories introduced a law in 1962 that established various classes of employment vouchers; three years later, the Labor government limited the number of immigrant vouchers to 8,500 a year. Even with these restrictions, the number of immigrants remained at about 50,000 a year through...

Author: /time Magazine | Title: The World: Civis Britannicus Non Sum | 3/8/1971 | See Source »

...would also be empowered to restrict the use or distribution of "any" substance deemed hazardous to health or the environment. It would set standards for noise abatement, enforce new ones for strip mining, establish a national policy to curb ocean pollution, and crack down on pesticides. The most dangerous chemicals would reach the public only through Government-approved pest-control consultants...

Author: /time Magazine | Title: Environment: Nixon's Second Round | 2/22/1971 | See Source »

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