Business: Prosperity Round the World

Around the free world the economic picture was bright. While the Iron Curtain countries try to cope with falling production, shortages of food and consumer goods, Britain, Italy, France and other free nations report thriving industry, booming stock markets and rising standards of living (TIME, May 10, 1954 et seq.). Last week the most up-to-date summary of just how well the world is doing was presented in Basel, Switzerland, in the 25th annual report of the Bank for International Settlements. Said the bank's General Manager Roger Auboin: "Nineteen fifty-four has been for the world a year of prosperity and promise." Proof...

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