THE AMERICAS: 1955, Year of Setback

While the U.S. economy ran at full speed last year, Latin America's economy stumbled and lost ground, especially in the field of foreign trade. Last week, in Vol. I, No. I of its new and exhaustive Economic Bulletin for Latin America, the United Nations analyzed the trade recession—and spotted a trend that looked no better.

What Latin America really needs from foreign trade is enough return to buy the capital goods required to send its Johnny-come-lately industries into an upward spiral, lifting the people's standard of living. This "capacity to import" is set largely by the volume of exports of...

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