Word: trade
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Dates: during 1950-1959
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...British, who trade to live, announced significant changes in their trade relations with both East and West...
East. Britian's Sir David Eccles, President of the Board of Trade, signed a five-year trade agreement in Moscow. Britain's purchases from the Soviet Union (chiefly timber, grain, furs) should now rise by a third over last year's $160 million, and may in time reach a level of 2½% of all British imports. Britain refused Moscow's request for long-term government credit, but expects to sell the Russians "very substantial" amounts of industrial equipment no longer on the West's strategic embargo list, including complete chemical, plastics and tire plants...
...boldest of all its colonial experiments, Britain has conferred autonomy on the famed imperial base of Singapore. The island is as strategically important as ever for Britain's Southeast Asia trade. It is essential to defense of Britain's still far-flung Eastern outposts. Nonetheless, the British government is turning over full powers of internal self-government to the island's inhabitants, four-fifths of whom are Chinese and therefore bound by ties of blood and language, at least, to the giant Communist Chinese republic to the north. In the old days only British subjects-which automatically...
...signs spelling out two messages: "You must vote" and "Your vote is secret." Last week, in elections for the first government of the State of Singapore, the left-wing People's Action Party swept 43 of the 51 seats. Chief Minister Lim Yew Hock, 44, the able young trade unionist who established peace in the island after the bloody 1955 riots by jailing half a dozen leaders of the P.A.P.'s Communist wing, failed utterly in last-minute efforts to unite the moderate and right-wing parties in a "grand coalition to stop the rampaging P.A.P...
This was no isolated phenomenon. "Cargo cults" ("cargo" is pidgin English for trade goods) have been observed repeatedly in the islands of Melanesia (including New Guinea, the Solomons and the New Hebrides). All of them share the belief that black men will acquire the white man's magic to materialize goods from overseas without doing a lick of work. British Sociologist Peter M. Worsley writes of the cargo cults in the May issue of the Scientific American, and lists and locates 72 of them...