Word: year
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Dates: during 1950-1959
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...encouraging sign at year's end was that U.S. exports were already on the rise again after their slowdown. Wage costs in foreign nations were also on the rise, narrowing the foreign advantage over the U.S. Now that the alarm has been raised, many a businessman is not only revising his ideas about world trade; he is also doing something about costs. Cleveland's National Acme Co. brought out a new cam-finishing machine that does the job in 20 sec., v. 1 min. 15 sec. "What's just as important," says Acme's President...
...Test of Vigor. More and more research is needed. Although industry spent $10 billion on research this year, it will have to spend still more. "The company that stints on research these days," says General Telephone & Electronics President Don Mitchell, "will give some short-term gain to its profit-and-loss statement, but it won't have any profit statement to worry about by 1970." Mitchell knows from experience that research pays off at a prodigious rate. "That means that $100 spent on research will bring back anywhere from $2,500 to $5,000 over a 25-year period...
...France's booming aluminum industry boasts that its technology is second to none. Italy's Pirelli tire and rubber company claims the same. Led by Germany and France, the industrial nations of continental Europe have boosted their gross national product 100% (to $212 billion) in ten years, turn out 250 million tons of coal (17% of the world total), some 65 million tons of steel (20% of the total), 1,500,000 tons of copper, zinc and lead (16% of world total). Across the English Channel, Britain's economy this year alone grew some...
...result of its economic strength, many a European nation felt confident enough to lower some of its trade barriers and chop away red tape. The Common Market (West Germany, France, Italy, The Netherlands, Belgium and Luxembourg) in its first year was such a resounding success that Britain, Portugal, Switzerland, Austria, Norway, Sweden and Denmark formed their own Outer Seven trading area to enjoy the benefits of mass markets and freer trade. Said a Common Market official in Brussels: "At the start, the politicians were for European unity, and the businessmen were very skeptical. But now it is the businessmen...
...more liberal attitude toward the U.S. specifically was overdue. U.S. imports are still restricted by quotas and high tariffs; e.g., Britain's tariffs and purchase taxes are so high that only 200 U.S. cars were imported last year. But the climate is changing. Says Common Market President Walter Hallstein: "We do not forget that the U.S. tolerated discrimination against its trade as a way of helping European recovery. Now that Europe has recovered, we certainly are not going to discriminate against...