Word: traded
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Dates: during 1960-1969
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...Guards. In Hong Kong and Tokyo, U.S. China watchers have taken to combing the Japanese newspapers, which have nine correspondents in Peking, for rundowns on the latest wall-poster scribblings. Though the vast Japanese intelligence network in China was totally obliterated in 1945, Tokyo has skillfully exploited its growing trade ($638 million in 1966) and other contacts with China to build a surveillance operation that is second only to that...
Though a deteriorating balance-of-trade position forced France to halt its bullion purchases last fall, the De Gaulle government has found other ways to keep up its pressure on the dollar. This month, in an interview with Paris' Le Monde, French Finance Minister Michel Debre obliquely suggested that one possible way to assure more international liquidity is to raise the official world price of gold, which has been fixed at $35 an ounce since 1934. Debre's remarks, in which he neglected to point out that nothing has aggravated the liquidity problem more than France...
...state intervention." Balogh frowns on most private foreign investment and advises underdeveloped countries against all "unnecessary investments," such as money spent for the production of more than one basic kind of auto. Though he is a Fabian Socialist, he urges the underdeveloped to be tough with their labor: discourage trade unions and minimum wage laws, he suggests, because they increase production costs and promote the rise of a small privileged class of skilled workers...
...longer term, Balogh believes that many underdeveloped nations are so backward and Balkanized that their best hope lies in banding into regional common markets, such as the Latin American Free Trade Association conceived by his ally, Argentina's Raul Prebisch. Richer nations should not only greatly increase their foreign aid, but also channel it through an international organization and budget it on a long-term basis. To accomplish this, the world needs a major reform of its monetary system so that generous nations-notably the U.S.-would not be penalized by balance-of-payments deficits as a result...
...hostile regions. Last October's riots seem to have convinced the Nigerians that they cannot live safely among members of another tribe. The surge of refugees fleeging homeward has included not only Ibos, but also Yorubas returning to the West and Hausas to the North. With communications closed, trade between the regions has come to a standstill. Even Nigeria's universities, traditionally neutral meeting places for members of feuding tribes, have been crippled by the new crisis. Almost all the Ibos at the University of Ibadan in the Yoruba West have retreated to the University of Nsukka in the East...