Word: traded
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Dates: during 1960-1969
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OBSOLETE COMMUNISM: THE LEFT-WING ALTERNATIVE, by Daniel and Gabriel Cohn-Bendit. Radical Leader "Danny the Red" Cohn-Bendit and his brother analyze last year's "days of May" student-worker uprising in France, blaming its failure on lack of support from the French Communist Party and leftist trade unions...
...franc will end soon. The continuing West German economic surge, which underpins the mark's strength, goes against classic economic theory. Rapid economic growth should almost inevitably produce much higher export prices and the demand for more imports, both of which are damaging to a country's trade position. Yet Bonn has managed to keep its economy expanding with little inflation. West German Economics Minister Karl Schiller said in his annual report that the country's production grew by almost 9% in 1968 and should expand by another 6.5% in 1969-with inflation accounting for barely...
Reverse Image. One reason for Germany's trade prowess is that its export prices have remained essentially the same since 1964, while those of the U.S., Britain and Bonn's five Common Market partners have increased by an average of 7 %. If Bonn were to peg the obviously undervalued mark at a higher price, it would relieve the competitive imbalance by making German exports more expensive and imports cheaper. Schiller, who still hopes to avoid revaluation, predicts that various other measures will help pare West Germany's trade surplus to $3 billion this year. Even that...
...first two weeks of February, France's reserves declined $29 million, while Germany's rose more than $121 million. France's ability to compete has been severely hampered by inflation; domestic prices are increasing by an alarming annual rate of 5.5%. One consequence is that French trade deficits have lately been running at more than $200 million a month. Psychology could cause even more havoc than economics. Frenchmen traditionally mistrust their own currency, and they have been spending francs rather than holding them, thus aggravating inflation. As a hedge against devaluation, they are converting francs not only...
...Trade. The hope that De Gaulle might become more cooperative on economic affairs is one reason that President Nixon seeks to improve U.S. relations with France. The Administration's anti-inflationary drive at home has helped to harden the dollar on world markets. One result is that Nixon will speak from strength in any money talks in Europe. While showing little interest in a gold price increase or other radical monetary reforms, Washington is pressing for the activation of the International Monetary Fund's "special drawing rights" as the best immediate way to expand the monetary reserves needed...