ARGENTINA: Buyers' Market

In the years of scarcity after World War II, Argentina drove hard bargains in selling its meat to the hungry British. But now the tables are turned. Sterling is stronger; trade is freer and more vigorous. And Britain, which once depended on Argentina for 80% of its imported meat, now takes a mere 10% of its needs from the Republic of Beef.

Last week, Argentina's two top economic diplomats arrived in London to discuss a new trade treaty. Chancellor of the Exchequer R. A. Butler told them frankly that Britain has junked the old bilateralism for liberal trading policies. Britain,...

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