Word: buying
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Dates: during 1960-1969
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...gesture of easing U.S. restrictions on trade with China. For the first time since the Communists won control of the mainland in 1949, U.S. businessmen may engage in nonstrategic trade with China. Though the ban on direct commercial import of Chinese goods remains, U.S. firms are free to buy Chinese products, and sell their own to China, through foreign-based subsidiaries or through intermediaries in other countries. U.S. citizens abroad will be able to bring back unlimited quantities of Chinese-made items, which will be subject only to normal tourist duties...
Filene's has been in business for 61 years, and is testament to the curious fever that infects bargain hunters. Driven by the notion that they are saving while spending, they not only buy more than they need but, as Basement General Merchandise Manager James Gormley says, "they end up spending more money than they would normally." Each day throngs of shoppers-as many as 200,000 at Christmas time-surge through the store's three dungeon-like underground levels, fighting for everything from name-brand nylon panties at 39? a pair to a Russian sable worth...
...lights are twinkling as brightly as ever in store windows this Christmas, but the cash registers so far are not jingling a very merry tune. Says Allan Johnson, head of Saks Fifth Avenue's 30 U.S. stores: "Shoppers are looking a lot more before they buy, and they are buying in smaller quantities." Inflation-pressed customers are also passing up the higher-priced items. Most stores are posting at least small sales increases over the 1968 Christmas season, but price boosts account for all the gains. In Pittsburgh, where reductions in factory overtime have cut some shoppers...
Secret Meeting. Since the Europeans had made the victory possible by agreeing not to buy South African gold in the first place, the U.S. could hardly refuse their request to ease the boycott. For its part, South Africa was ready to sue for peace. Its 1969 trade deficit reached an estimated $700 million by October, largely because of imports of machinery needed to modernize its economy. Unless the South African government could sell more gold at a good price, it would have to either 1) pursue risky policies of austerity and deflation during an election year, or 2) restrict imports...
...deficit and the free price sank to $35 or less. The I.M.F. would pay the official price of $35 and could then resell the metal to central banks. The deal would provide a floor under the gold price, and something of a ceiling as well. Since the I.M.F. would buy only a little gold, South Africa would have to sell most of its metal on the free market, and that would tend to hold down the price...