Word: traded
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Dates: during 1970-1979
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...Canton Trade Fair, the bustling twice-annual bazaar for China's international commerce, a Chinese official approached a visiting European businessman with a delicate but unmistakable proposition: favored business dealings, in return for the gift of a particularly desirable stereo hi-fi system. In Tianjin (Tientsin), a factory received a special shipment from an overseas Chinese merchant with whom it regularly deals: a free new automobile. In Peking, officials of a trading corporation asked another foreigner for a specified gift, an expensive Nikon camera...
Until a few months ago, that kind of bribery and corruption would have been unthinkable in China's strictly collectivized, rigidly austere commercial system. But of late many Chinese bureaucrats and factory managers involved in foreign trade have shown themselves readily disposed to partake of the myriad goodies that can accompany avid salesmanship. Officials who once would have rejected anything more expensive than a lapel pin now eagerly accept, and often solicit, valuable gratuities-everything from sophisticated machinery and heavy vehicles for their factories, to electronic calculators, cassette tape recorders, TV sets and even limousines for themselves...
...automobile, especially a Mercedes-Benz, has become the most prized "donation" of all. At the Peking headquarters of a trade corporation, it was not so subtly suggested to a Western businessman that he should donate two cars, one for his own use during occasional visits to China and one for the corporation. Members of another trade corporation told representatives of a U.S. company that a particular commodity purchase did not have to be paid entirely in cash; instead, if the Americans came across with a car, the vehicle's cost could be deducted from the contracted...
...tried to discredit cram schools, thus defending the S.A.T.'s objective infallibility. But the coaching schools, which also prepare students for the Law School Admissions Test (L.S.A.T.) and Graduate Record Examinations, have become more than a $10 million annual business. So much so, in fact, that the Federal Trade Commission's Bureau of Consumer Protection decided to investigate them. The immediate target was the Stanley H. Kaplan Educational Center, a chain of 88 schools founded by Stanley Kaplan, 60, the son of a Brooklyn plumbing contractor who has been tutoring all his professional life. Kaplan, rather brashly...
...Harvard Square, after a brief battle with University community relations officials, the City Council voted to keep out skyscrapers, placing a 110-ft. ceiling on buildings and insuring forever (pending a court challenge) the place of Holyoke Center as the Square's World Trade Center...