Word: traded
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Dates: during 1960-1969
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...abrupt about-face, CIGA plans to reach for the equally profitable middle-price, room-number trade. In partnership with Alitalia and an Italian holding company, it is getting ready to build a chain of 800-bed modern "Aerhotels." "They will have all the American internal fittings," says Managing Director Giorgio Campione, "including ice water and paper-wrapped glasses." The first two Aerhotels are to be opened in Milan and Rome...
Eric Wyndham White, 55, has spent the past two decades coaxing industrial nations into lowering their tariff barriers to international trade. As head of the General Agreement on Tariffs and Trade (GATT) ever since its creation in 1948, he earned a reputation as a trusted and respected mediator. But when cooperation eluded him, the outspoken Briton's most characteristic tactic was a blunt threat to quit. And often enough, that threat got him what he wanted...
...hung on to prepare and manage six rounds of talks aimed at abolishing or reducing trade barriers for more than 20,000 items from toenail polish to turbines. The last of these talkathons, the four-year Kennedy Round, he believed, crowned his work - and his intention to leave became irreversible...
...Kennedy Round agreements hold, the new head of GATT and his associates will be able to start work on another major effort to liberalize world trade. They plan to tackle the area of nontariff obstacles to commerce from border taxes to sanitary regulations. Also high on GATT's agenda are measures to encourage trade between developed and underdeveloped nations by means of special concessions. Long foresees a period ahead in which the problems of poorer countries will be "of paramount importance," and his main job will be to help stop the widening prosperity...
Room at the Top. One day, sitting in a tree reading Moliere, young Pritchett made his spiritual getaway when a voice announced to him: "You are a skeptic." At 16, he happily went to work as an office boy in the leather trade. Here he adopted a surrogate father named Hobbs, who was cynical, glamorously debauched, and gauntly full of death. After four years, he went to live in Paris, and eventually moved into a writing career via journalism. Could any young man more convincingly escape a family trap? Yet just as they obsessed each other, Father and Mother still...