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...agreement will wipe out some jobs, and even though the Tokyo government stands ready to provide $700 million to buy up surplus spindles and outdated machinery, Japanese textile manufacturers are not mollified. Last week they organized rallies throughout Japan eclipsing the anti-import rallies staged earlier in the U.S. MITI experts estimate that Japan's textile sales to the U.S. will drop to $530 million a year, from a recent high rate of some $560 million-to say nothing of the $750 million that might have been reached without restrictions. However drastic, that reduction will not save many jobs...

Author: /time Magazine | Title: The Economy: A Costly Trade Victory over Japan | 10/25/1971 | See Source »

...feelings affect his behavior in public. Never raise your voice. A big mouth does not indicate a big brain." When responding to a complaint, the policeman should enter the person's home as if he were a "guest and not an unwelcome intruder. Remove your hat and wipe your feet before entering. Do not smoke or lounge around as if you were in your own home." The final admonition may be the most difficult to remember: "There is no law against [a citizen's] making a police officer angry...

Author: /time Magazine | Title: The Law: Polite Police | 10/25/1971 | See Source »

...both clear and laudable: a new financial system with more flexible exchange rates based on a frank recognition that the dollar is no longer worth its stated value in many foreign currencies, and a revision of world trade rules that would enable the U.S. to increase its exports and wipe out its balance of payments deficit. That is a bold program; the difficulty is that no one knows quite how to accomplish it. The danger is that, having seized the initiative in getting negotiations started, Nixon and more particularly Connally will push other nations too far too fast down...

Author: /time Magazine | Title: The Economy: Money: The Dangers of the U.S. Hard Line | 9/27/1971 | See Source »

...Europeans, however, cannot simply refuse to cooperate in a U.S. attempt to wipe out the balance of payments deficit, which they have often, and justly, denounced as the chief threat to world financial stability. They seem willing to bring about a switch of around $10 billion annually in the U.S. payments position, though they think that this can be accomplished only over a period of several years...

Author: /time Magazine | Title: The Economy: Money: The Dangers of the U.S. Hard Line | 9/27/1971 | See Source »

Despite the comic-opera façade, however, Tubman made some substantial contributions to Africa's oldest independent black state. His rule was characterized by both stability and a medicum of physical progress. By means of education and arm-twisting, Tubman did all he could to wipe out the differences between native tribesmen and the elitist Americo-Liberians (descendants of Liberia's freed-slave founders...

Author: /time Magazine | Title: LIBERIA: A Patriarch Yields the Reins | 8/2/1971 | See Source »

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