WEST GERMANY: Trade, Not Aid

West Germany joined last week in the West's cautious advance toward getting along better with Gamal Abdel Nasser. Economics Minister Ludwig Erhard signed a bilateral agreement guaranteeing German exporters up to $100 million in shipments to the United Arab Republic.

While Nasser junketed through Soviet Russia, his press grandly proclaimed that the German "loan," along with an earlier $175 million Soviet credit, would enable Egypt to fulfill its five-year plan in three years.

Actually, Bonn had not granted the Arabs any credit at all in the usual sense of the word. Under Erhard's policy of guaranteeing exports to underdeveloped countries, German...

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