Greece: Counting on Cotton

In a move to expand its trade horizons, Greece last month signed up as the first associate member of the Common Market. Greece got the Six to lower their tariffs against its agricultural products, but, in return, must ultimately lower its own tariffs on manufactured goods—which will expose fledgling Greek industries to painful competition from more advanced Common Market companies.

Some Greek industrialists shudder at this prospect, but not shrewd, cultivated Christopher Stratos, 38, the managing director of Athens' bustling Piraiki-Patraiki Cotton Manufacturing Co. By using things Greece has plenty of—cotton and cheap labor—Stratos has made his family-owned company a model...