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...Japan must still import a minimum of $400 million worth of basic foodstuffs each year, and her exports are falling behind imports by $240 million a year. The result is that Japan's economy seems on the road to collapse. In 14 months, her foreign-exchange reserves have sunk 18%, from $1.1 billion to $900 million...

Author: /time Magazine | Title: BUSINESS ABROAD: Crisis in Japan | 3/15/1954 | See Source »

...bombardment ; in World War II he used it. He also reasoned that land-based aircraft, because of their longer range, would be more effective than carrier planes as submarine killers. As chief of Britain's Coastal Command, Slessor amply proved his point: of the 280 German U-boats sunk by British aircraft, land-based planes sank...

Author: /time Magazine | Title: GREAT BRITAIN: Atomic Guarantee | 3/1/1954 | See Source »

...deliberately chose to move the play as close to the audience as possible. Instead of performing on Sander's stage, they use a highly symbolic set built on a semi-arena sunk into the floor. This decision was a good one; instead of an aloofness, designer Webster Lithgow has produced a feeling of closeness that adds to the intensity. One can only wish that the individual components of the set were larger and placed further apart. Lighting, by Campbell Steward, and costumes, by Leslie Van Zandt, were excellent...

Author: By Richard H. Uliman., | Title: Eliot's 'Murder in Cathedral' Opens | 2/26/1954 | See Source »

...went into the shipping business to handle the trade. He built up a fleet of six ships, turned them over to the Allies during the war, and put in a tour of North Atlantic destroyer duty with the Greek navy. At war's end, with half his fleet sunk, Niarchos started building up a tanker fleet, was able to finance the building and purchase of 36 vessels by chartering them in advance to big oil companies...

Author: /time Magazine | Title: SHIPPING: Biggest Tanker | 2/22/1954 | See Source »

...party, decked out with a tall tree, stacks of packages wrapped in red ribbon-and twelve children (from Balanchine's School of American Ballet) tumbling about the stage in colorfully costumed tumult. Then, when the last guest had gone, and Clara, the little daughter of the house, had sunk into a Christmas night dream, the grownups took over. In Act II came the company's stars, one after the other, to dance through Clara's dream. Among them were Maria Tallchief as the Sugar Plum Fairy, Nicholas Magallanes as her Cavalier, and Tanaquil LeClercq as the Dewdrop...

Author: /time Magazine | Title: Music: Christmas Dream | 2/15/1954 | See Source »

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