Word: anderson
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Dates: during 1950-1959
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...Change. Besides the inherent difficulties of the task, Anderson has to contend with a widespread failure, at home and abroad, to grasp how radically the world economic picture has changed over the years since World War II. Back in the late 1940s, the U.S. was the principal source of the world's manufactured goods, exported far more than it imported. Result: even with U.S. tourists spending millions abroad, U.S. troops stationed around the world, U.S. Marshall Plan dollars pouring into Western Europe to rebuild shattered economies, and Point Four aid flowing to underdeveloped countries...
...West German." Anderson was aware of the trend when he took office in 1957. In characteristic fashion he quietly set about shifting foreign-aid policies that had been backed by the full prestige of the Truman and Eisenhower Administrations. There were no dramatic sessions; at every opportunity he simply called attention to the problem. Last spring he began inviting Administration leaders to conferences and lectures. At first the State Department was horrified at the prospect of revising foreign-aid policy (and some of its staffers still are), but Anderson found a sympathetic listener in Under Secretary (for Economic Affairs...
Essentially there are two pillars to Anderson's policy, aid and trade...
...Anderson's goal is to make aid to underdeveloped countries a cooperative free-world undertaking. At the World Bank-IMF meeting in New Delhi in October 1958, Anderson sponsored a proposal to increase World Bank funds by doubling the member nations' commitments to guarantee World Bank bonds. At the same meeting, Anderson unwrapped a U.S. plan to set up an International Development Association (with the U.S. contributing one-third of the capital) to make loans that, unlike World Bank loans, would be repayable in the borrowing country's own currency, no matter how soft. At the World...
...remind Western Europe and Japan that the Marshall Plan days were long since over, Anderson last month took the dust-stirring step of announcing that henceforth dollars lent to underdeveloped countries by the U.S.'s own Development Loan Fund (outgo: about $550 million a year) must be spent in the U.S. Protests rang out that Anderson was dragging the U.S. backward with a protectionist "Buy American" program (TIME, Nov. 9). But Anderson's essential purpose was to force Western Europe and Japan into providing loans to finance their own exports to underdeveloped countries. He would be happy...