Word: traded
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Dates: during 1960-1969
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...project -- and there is supposed to be a lot -- will be done by local men, trained, if need be, on the job. By one estimate, 7-8,000 construction jobs can be created that way. There are hopes that some sort of understanding can be reached with trade unions to allow newcomers to do the work. Talks with union leaders have barely begun, but insiders are optimistic, and they insist that local Negroes are going to get the jobs no matter what the unions...
...first major step toward building a common market for Latin America will come in midsummer, when officials of the two existing markets-the eleven-nation Latin American Free Trade Association and the five-nation Central American Common Market- will meet to discuss plans for merging the two zones into one economic com munity. Meanwhile, the Latins will talk among themselves about multilateral plans for better education, health and communications. By autumn, the first details of Latin America's new direction should begin to take shape...
...with $55 million in annual sales, has helped South Korea to become an economically viable nation. The 20,000 spindles and 150 looms of Lee's Cheil Wool Textile Industrial Co. Ltd. have not only halved the price of worsted goods for Koreans but have also helped the trade balance by sales to U.S. clothing manufacturers. Lee's sugar refinery at Pusan, started in 1953, provided the nation with a psychological lift because it was built at a time when the war with North Korea had left few businessmen willing to risk their capital on long-term investments...
...Restoring Our Fortunes Abroad." "The measures," said Callaghan, speaking of last July's austerity orders, "are doing what the government expected of them, namely restoring our fortunes abroad while giving us an uncomfortable time at home. The freeze and squeeze have been worth it." The trade deficit, reported the Chancellor, dropped from $126 million a month in 1964 to $32.2 million a month last year, as exports rose 14%. Britain's baiance-of-payments deficit eased from $974 million to $529 million as funds flowed in. As a result, Britain will be able to pay off debts amounting...
Stay-at-Home Vacations. For all the gains that Callaghan proudly pointed to, Britain is not yet clear of some economic shoals. The government still owes another $1.4 billion to the IMF, which will come due in 1970. The trade gap is far from permanently closed. And lately it has begun to widen, largely because the U.S., on whom Britain depends to absorb its stepped-up exports, has problems of its own and is buying less. Unemployment, while leveling off some, is still 2%; the Selective Employment Tax that was supposed to force workers out of service jobs into manufacturing...