Word: econ
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Dates: during 1990-1990
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...must often take their profits in bartered goods, such as clothing or foodstuffs, which can be sold in other Western countries. At the same time, the area remains plagued by grasping bureaucrats, archaic trade rules and primitive roads, phone systems and factories. Says Jan Vanous, research director of Plan-Econ, a Washington-based consulting group that studies Eastern Europe: "Investing there is really for people who know what they are doing and have a strategic vision." Quite a few adventurous companies have followed that advice...