ECONOMICS: The Road Back

Britain and the U.S. announced last week that German industry in their two zones would be based on a production ceiling of 10.7 million ingot tons of steel a year. This was quite a jump above the 5.8 million ton level set last year for all of Germany.

The U.S.-British aim was a producing western Germany that could 1) pay for itself and 2) contribute more coal, machinery, and other exports toward general European recovery. There would, however, be no immediate miracles; experts thought it would take until 1951, even with good luck, to reach the 10.7 million ton ceiling...

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