Word: wheated
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Name of the Grain. Exports of top quality European wheat flour, for example, receive a subsidy equal to 80% of the world market price. Taking advantage of that, one enterprising German trader was convicted of making several hundred thousand dollars by exporting certified "finest wheat flour" to Switzerland and pocketing the subsidy. When EEC officials finally inspected a shipment, they discovered that the flour actually was a nonsubsidized mixture of cattle feed. Conversely, "cattle feed" imported into the Common Market duty-free often turns out to be a mixture of two high-tariff commodities, wheat flour and sugar...
...Chinese can also be tough. "Any businessman who thinks he can fly in one day and have a reservation out the next, is not going to do much business in China," says former Canadian Agriculture Minister Alvin Hamilton. His agents once spent six excruciating weeks working out a wheat deal with the Communists. "They're difficult to deal with," according to one London banker. "They want to re-examine every / and / before they dot and cross them." But, adds a Canadian banker, "they're strictly honorable in adhering to their agreements. They pay their debts promptly...
...fall on foreign policy issues but on the economy. The present leadership has done fairly well?but not well enough. Soviet agriculture, which employs about 26% of the work force v. less than 2% in the U.S., has picked up considerably and the Soviets have not had to buy wheat abroad for two years; but there are still shortages of meat, fruit and fresh vegetables. Industry is lagging badly. Technological advance is falling even farther behind the West. The consumer remains ill cared...
...Thurmond of South Carolina, a very different kind of Republican. The presents people brought had a lot in common-stuffed elephants and teething rings, diaper pins and diapers decorated with the Confederate flag, a copy of Winnie-the-Pooh. There was ice cream, of course, and a jar of wheat germ labeled "Strom's secret formula." Thurmond's second wife, 24, is about to present the 68-year-old Senator with his first child. Said he modestly: "I feel very honored...
...bright spot in India's future is the success of "the green revolution," the dramatic breakthrough in the use of high-yield strains of grain, chemical fertilizers and advanced irrigation techniques, which increased wheat production 50% in two years. But millions still live on the edge of starvation, and will for years to come...