Word: traded
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Dates: during 1960-1969
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...Novotnyites quickly got the point. When some tried to resign, their subordinates demanded that they be fired instead. That was the fate of Miroslav Pastyrik, chief of the Council of Trade Unions, and Michal Chudik, president of the Slovak National Council...
...Sweden has long been a friend of the U.S. and is about as remote from Viet Nam as any country can be, the Vietnamese war has poisoned Swedish-American relations. In the past few months, Swedish youths have broken windows in the U.S. embassy, smeared paint on the American trade center, hurled rotten eggs at an American diplomat and burned the U.S. flag. The entire nation applauded when Premier Tage Erlander-followed shortly by his three major opposition parties -declared his Social Democratic government's opposition...
...exports rapidly, the latter course is inevitable. Unfortunately, U.S. imports are by definition the exports of other nations, so they must face reduced exports, which will cause them to reduce their imports, which are the exports of still other nations, and so it goes. Because of the complexity of trade relations, it is impossible to predict the magnitude of the eventual impact upon international trade, but it is certain that there is some sort of "multiplier" operating...
...ripples will finally return to wash the shores of the U.S., reducing its exports and widening the deficit once again. The process is ultimately self-defeating; a small decrease in the deficit is purchased at the cost of decreasing total world trade by a much greater amount...
Still, the U.S. economy will be comparatively untouched by a reduction in international trade; exports comprise only three per cent of the GNP. The developing nations, some of whom rely on exports for seventy per cent of GNP, will be hit hardest. Vietnam will no longer be the only developing nation paying for the war; by impeding international trade we will have managed to increase the cost so that other nations might share...