Word: traded
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Dates: during 1940-1949
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...term." The finance ministers' meeting sought results in only the first two categories. The short-term program called for a ?60 to ?100 million cut in imports by the rest of the Commonwealth (excluding Canada) from the dollar area. The middle-term scheme was a new pattern of trade and production so that the sterling area could produce more of the supplies now being imported for dollars. What Whitehall calls "the multilateral stuff" (longterm) will be left for further talks in Washington this September...
Throwing around the name of Nozaka's good friend Mao Tse-tung has been even more effective. With Japan's recovery vitally dependent on China trade, certain businessmen have seen fit to invite Red leaders to Tokyo's swank Industry Club. Osaka manufacturers have formed a Marxist study group and are contributing to party coffers. Out in public, Communist orators shout that China shows Asia's "wave of the future." Party organ Akahata, riding the wave, claims that China trade would gain Japan commercial independence (from the U.S.) and would help overthrow the Yoshida government...
...summer's first heat wave helped the sales of Goodall Co.'s famed lightweight Palm Beach suits, it left Goodall's President Elmer L. Ward cold as a haddock. To clear the decks for a new, improved suit this fall, he decided to slash his "fair-trade" (i.e., fixed) prices by 29%, from...
...dealers would get a new wholesale price of $12, but they had paid $17 each for the suits they had on hand. President Ward gave them ten days to clear out their old stocks at the old prices. But one retailer made the mistake of letting the apparel trade's Daily News Record in on the secret. News services spotted the trade-paper item and spread the good news to bargain-hungry U.S. consumers. Result: Goodall's retailers could no longer find anyone foolish enough to pay $27.50 for a Palm Beach...
Hopping mad, the National Retail Dry Goods Association, instead of blaming the retailer who blabbed, last week gave Goodall a tongue-lashing: "A black eye for . . . fair-trade . . . A policy error of the first magnitude . . ." Goodall, said an association spokesman, ought to rebate the profits every retailer lost on the premature sales. Whoever was right, the shopper was getting the benefits; last week in Manhattan Gimbels offered men's tropical rayons...