Word: trades
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Dates: during 1960-1969
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Wilson arrived in Scarborough in the midst of the worst slump since he led Labor to power in 1964. Despite his efforts, the economy remained stagnant (see BUSINESS). Unemployment, at 555,000, was the worst in 27 years, and the trade gap continued to widen, endangering the stability of sterling. Wilson was under attack from just about every faction in his own party-old-line socialists, because he has resorted to Tory-style restrictions on consumer credit and travel allowances; trade unionists, because he has imposed a freeze on wages; intellectuals, because he seemed only concerned with pragmatics; left-wingers...
...surprisingly, fuming smokers are changing their buying patterns. Newsstands and small shops used to be the industry's No. 1 outlet, but now others are taking over the trade. Largely because they offer the best prices in town, supermarkets have increased their share of total cigarette sales in recent years to a commanding 35%. They are now the leading sellers of smokes...
...monetary system. Without dissent, finance ministers from the member countries of the powerful International Monetary Fund approved the cautiously controlled creation of what amounts to a new kind of international money-a combination of currency and credit that would supplement the gold, dollars and pounds that now bankroll world trade and investment...
...need for such reform has grown more and more obvious to experts. World trade has doubled over the past decade, but reserves to finance it have grown only 40%. Last year hoarders squirreled away almost as much gold as the world mined; with increasing industrial demand for the metal (for everything from computer diodes to the skin of Titan III), the store of gold in the free world's central banks actually dwindled for the first time in modern history. So far, the U.S. and British balance-of-payments deficits have covered the gap, but if and when...
Died. Robert Hans van Gulik, 57, Dutch creator of the Judge Dee Chinese mystery tales (The Willow Pattern, Murder in Canton); of cancer; in The Hague. An Orientalist by training and an ambassador by trade (to Japan, Malaysia), van Gulik was studying ancient Asian prose when he found the classic magistrate-detectives of Chinese literature. Supplying Occidental motives but preserving the delicate puzzle plots of the 7th century Tang dynasty, he pitted his wise and wily Dee against tyrants, palace power-seekers and assorted hatchetmen in 17 thrillers...