Word: trades
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Dates: during 1950-1959
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...dynamic process that Ludwig Erhard has set in train by liberating his country's economy is still forcing basic changes. Last week in Paris Erhard threw his powerful support behind the plan to set up a free-trade area comprising eleven European nations (notably Britain) besides the Common Market's six. Always, to Europe's Socialists and faint of heart, he preaches his doctrine: "The most successful means for the achievement and retention of prosperity is competition. Only by competition can an economy expand to serve all people, especially in their capacity as consumers, and dissolve...
Erhard also succeeded in enshrining in the new treaty creating the six-nation Common European Market five stiff rules banning all agreements to prevent, restrict, or distort competition within the Common Market. Like Britain's Chancellor Harold Macmillan, he is a devoted believer in free trade among all nations. This does not make him an enthusiast for the Common Market. He fears it may become "an island of protectionism in Europe" because of pressure from the weaker economic members, especially France. "Why should I want to throw out controls and to abolish tariffs on a national level only...
Westerners are not so sure. After 18 months in office as independent Ceylon's fourth Prime Minister, Bandaranaike still commands a huge popularity, but he seems to be tugged steadily leftward. A stream of "diplomats" from behind the Iron Curtain have been pouring into Ceylon to offer trade, aid and advice. Little by little Western capital and know-how is being withdrawn, frightened away by increasing talk of nationalization. Unemployment increases steadily (the Trincomalee turnover itself threw 10,000 dock workers out of work...
Skipping lunch, he dashed on to open three kindergartens, 19 elementary schools and a trade school. In outlying Xochimilco, to the accompaniment of ancient church bells pealing across the town's Venice-like canals, he opened a flower market and a general market, chatted with pupils in a new elementary school. At sundown, his caravan headed back to Los Pinos and dinner. Ruiz Cortines was plainly weary but well pleased with the day's work: 41 dedications in nine hours and 25 minutes...
...Extension "for at least five years" of the tariff-lowering Reciprocal Trade Agreements Act (expiration date: June), which is under hot congressional fire...