Word: trade
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Dates: during 1950-1959
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...single year as Britain's Chancellor of the Exchequer, persuasive, even-tempered Peter Thorneycroft, 48, had established himself as a prospective Tory Prime Minister. His sponsorship of the British plan for a free trade area embracing all Western Europe (TIME, Jan. 28) earned him a reputation for vision; he won the admiration of Britain's business community by his unflinching fight against the domestic inflation that lies at the root of Britain's economic difficulties. Early last week the Times of London gave Prime Minister Harold Macmillan high marks for "coolly and firmly backing a courageous Chancellor...
...fighting with Britain's paratrooping Red Devils at Arnhem during World War II, Heathcoat Amory is a successful businessman who has helped make his family textile company one of Britain's most progressive. A staunch friend of the U.S. and an enthusiastic champion of the European free trade area, he has earned wide respect for his ability in administering the thorny ministries of Pensions and Agriculture, has been described as "everybody's second choice for every senior post in the government." Thorneycroft was the first Chancellor of the Exchequer to resign in protest against government policy since...
...SUDAN. A Russian offer to trade arms and machinery for surplus cotton has so far met with no success. But last year an estimated 200 Sudanese went to the U.S.S.R. at Russian expense as students or visitors. Says a Western diplomat in Khartoum: "The Soviet appeal is that they pay attention to people who have never had any attention paid to them before. They offer free trips to Moscow to people who have never been ten miles out of Khartoum...
...winning Afghan good will was paving the streets of Kabul-a project that had been turned down by the U.S. as economically unproductive. Despite signs that its rulers are worried at the prospect of sinking too deep into the Soviet embrace, nearly half of Afghanistan's foreign trade is now with Russia; when the time comes to begin paying off the Russian loans in Afghan products, the percentage will rise even higher...
...many furriers think the market will keep improving. One big reason for the comeback is that women are not so suspicious as they were, thanks in large part to a 1952 federal law requiring truthful labeling. Said Harvey Hannah, chief of the wool and fur division of the Federal Trade Commission: "The act has done a lot to instill consumer confidence. There was a time when a lot of people would not go near a furrier for fear of being deceived. There used to be 96 different names for rabbit. Now it has to be called rabbit-and not many...