Word: trades
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Dates: during 1960-1969
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...main thing is what they (the poor nations) can do," he stressed, "but we can help." American foreign aid is destructive, he said, because it is given in loans attached to trade agreements which siphon off the country's capital and lower the quality of its imports...
...miracle remains elusive. Last week the Board of Trade reported that Britain's trade deficit rose to $158.4 million in October-double the September deficit-as exports dropped sharply and imports climbed to a near-record level. The trade deficit for the whole year is now expected to reach $1.68 billion, the highest figure since 1951. As one consequence, instead of achieving the "substantial surplus" in its overall balance of payments that Wilson foresaw, Britain is heading for a $600 million deficit this year...
...fearful of higher prices, Britons went on a spending spree. Consumers not only bought up imports but helped to keep British industry from taking much advantage of its opportunities to sell abroad. "We definitely miscalculated by delaying as long as we did," admits Wilfred Brown, the Board of Trade's minister of state for exports. Even after Wilson belatedly imposed austerity measures-heavy new taxes, tight wage controls and a skimpy national budget-the buying binge continued. Instead of falling by about 1½% this year as the government intended, consumer spending seems likely to rise by 2%. Three...
...larger devaluation would give a greater boost to the French export trade, thus reducing the need for credit to support the franc...
Another feature of both devaluation plans is that West Germany--France's principal trading partner--would put a tax on its exports and reduce its tax on imports. This would decrease France's recent trade deficit with Germany--one of the main causes of the present weakness of the franc...