Word: traded
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Dates: during 1940-1949
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...even though Nagoya's sleepy isolation and commercial torpor are worlds away from the energetic, expansionist drive of Osaka, the problems that the two cities have to face are largely the same. Japan must live on its exports. To export profitably, it must change its trade patterns, send heavy machinery where it once sent textiles, step up its export of bicycles, eventually export airplanes. Japanese managers and engineers must pull up their socks and streamline their subsidy-softened industries...
...selling in the U.S. and the balance by selling such surpluses as grain and timber to Britain and the rest of the world. Because of the dollar shortage, Britain and many another customer have slashed their purchases in Canada, and have thus ripped apart the historic pattern of Canadian trade. This week, three Canadian cabinet ministers are in Washington for the U.S.-British economic talks (see INTERNATIONAL), hoping eagerly for some near-miraculous solution that will avert the crisis Canada faces in her dwindling dollar supply...
Bitter Choice. Overshadowing this historic problem is the urgently pressing one of Canada's trade crisis. If the Washington talks do not produce healing prescriptions, St. Laurent must administer some bitter doses from his own medicine closet. He might even have to stop all but the most essential U.S. imports to Canada and let Canada live as best she could on her own production and high-priced overseas imports. That course for years to come would deny to Canadians such items as U.S.-made cars and clothes, U.S.-grown citrus fruit, Hollywood movies. Canada would save U.S. dollars...
Another remedy might be reciprocity with the U.S., and, if the U.S. is willing, free trade across the border. Canadians rejected wide reciprocity when U.S. President William Howard Taft proposed it in 1911. They feared it would lead to a customs union, the destruction of Canadian industries and the ultimate loss of Canadian independence. They would be wary of it today for the same reasons...
...Manhattan, Vogue's editors protested that they had reported the Paris fashions last year in the same Sept. 1 issue "with no protest" from the syndicate or the trade, and had no "official notice" of any change this year, had signed no new agreement. Added Vogue: "After 50 years of reporting French fashions, it is hardly likely that Vogue would now deliberately violate any promises given to the Couture...