Word: trades
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Dates: during 1960-1969
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...Janeiro by these same nations. The Stockholm Conference was and still is necessary to formalize the scheme by specifying the circumstances under which a nation may use its SDR's. It must also fix some sort of limit, probably adjusted to a nation's volume of trade and size of GNP, to which the nation may draw, and decide the manner in which the proposal must be ratified by IMF members...
...nations become increasingly linked to an international currency, and as they exploit their comparative advantages and trade comprises a larger share of their total product, they will become increasingly vulnerable to the kind of economic sanctions a central bank is capable of applying. The ability of a nation to long defy world opinion or conduct itself in a manner a majority of other nations think improper (the U.S. in Vietnam or South Africa and Southern Rhodesia within their border), would be significantly reduced...
However, as world trade increase, the amount of reserves required for transactions purposes will increase, as will the amounts required by nations for precautionary hedging against future deficits. As a nation's volume of trade expands, so does the range in which a possible deficit or surplus may lie, and unless a nation is willing to allow its exchange rate to fluctuate to absorb the surplus of deficit, the resources for financing deficits must increase. This adds up to an increasing demand for reserves at a time when the supply of gold is zero and the supply of dollars...
...head of the Department of Political Science at the University of Alberta, wrote that social scientists of today are efficient at their trade, but that their trade does not demand enough of them...
...Japan, Canada, the Common Market Six and all eight members of the European Free Trade Association...