Word: tradings
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Dates: during 1940-1949
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Then, in the last decades of the 19th Century, a mighty competitor arose to threaten British trade. U.S. productivity caught and then far surpassed Britain's. The leadership in world finance and trade passed into American hands. Declining Britain could no longer earn enough abroad to pay for what she needed to buy abroad to maintain her living standard...
Bevin & Cripps would argue that Britain's ultimate aim, like America's, was a competitive, freer-trading world outside what Bevin calls "the ruble area." But they would also defend Britain's present bilateral trade deals with other countries (e.g., Argentina) as an unavoidable expedient so long as the dollar shortage lasts. They would have a fairly shrewd notion of the American climate of opinion, of what they might ask and expect to receive...
...There was a time when Britain was in the exporting end of the oyster trade. Julius Caesar took English oysters with him back to Rome, where Historian Gaius Sallust sourly commented: "The poor Britons, there, is some good in them after all; they produce an oyster...
...quarter of a century later, Hideyoshi's successor as shogun, arch-isolationist Tokugawa Ieyasu, built a stronghold at Nagoya, 100 miles northeast of Osaka, Ieyasu wanted neither conquest nor foreign trade; he clamped the lid on Japan, and his family kept it there for 300 years. Like Osaka, Nagoya grew up in the image of its maker. Nagoyans put classical poems, flower arrangements and the complex subtleties of the Japanese tea ceremony ahead of commerce and industry; they dislike to hustle; there is still a feeling that trade is somewhat vulgar...
While the Federal Trade Commission was serving up the facts on big business (see above), a Cleveland businessman last week provided a pamphlet case history on why his Allied Oil Co. was swallowed up by a bigger company...