THE ECONOMY: The Quiet Crusader

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In chancelleries around the world, U.S. diplomats were explaining to foreign governments last week that the U.S. is in the midst of a major change in foreign policy. The outflow of dollars from the U.S. would exceed the inflow by some $4 billion this year; the end of the Marshall Plan period of unrestricted overseas spending had come. No, the U.S. did not intend to cut out foreign aid where it was needed, nor to retreat into "Buy American" protectionism, nor to cut dangerously its overseas military forces. But it might...

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