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...financial system to replace the old one that creaked to a breakdown last year. But the world has been drifting toward division into hostile monetary blocs for lack of political leadership to start the hard job of building a flexible system that would better encourage international trade, investment and tourism. Last week that initiative finally came-happily from the U.S. The Nixon Administration is in a strong position to push bargaining along because America is at last shrinking its gigantic balance of payments deficit (see chart...

Author: /time Magazine | Title: MONEY: AWelcome U.S. Initiative | 10/9/1972 | See Source »

Hard Labor. Even Communist Yugoslavia now has a string of nudist camps along the Adriatic Coast for the benefit of foreign tourists. Earlier this month it also played host to the 13th World Congress of Naturalists, though not without a bit of embarrassment. The Croatian Minister for Tourism angrily canceled an appearance at the congress when informed that he was expected to show up in the buff...

Author: /time Magazine | Title: EUROPE: The Naked and the Med | 8/28/1972 | See Source »

...original solutions to the country's economic ills. One of the chief problems is agriculture; land reform, conservation and credit are all sorely needed. For the longer run, Manley is seeking to lessen Jamaica's reliance on exports of primary products and increase industrial processing, mining and tourism...

Author: /time Magazine | Title: THE CARIBBEAN: Jamaican Joshua | 8/21/1972 | See Source »

...city's postwar population was 480,000; today it is 1,350,000 and is growing at the rate of 30,000 to 40,000 a year. The economy, once bound to beer and tourism, is now worth about $17 billion a year. Biggest contributors: electronics (notably Siemens) and automobiles (notably BMW, with new headquarters that resemble a cluster of three engine cylinders). No business is hard-pressed, whether it be publishing (every seventh German book title is printed in Munich) or the clothing and fashion industries, where earnings have outstripped the beer business threefold...

Author: /time Magazine | Title: Olympics '72: Munich: Where the Good Times Are | 8/7/1972 | See Source »

...ease the nation's balance of payments deficit by chopping, from a gallon to a quart, the nontaxable liquor allowance for Americans returning from abroad, Kimelman helped lead the successful fight to keep the one-gallon rule in the Virgin Islands. That greatly lifted the islands' tourism -and Kimelman's fortunes...

Author: /time Magazine | Title: PERSONALITIES: McGovern's Henry the K | 8/7/1972 | See Source »

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