Iron Curtain: How to Hunt Dollars

It may be cold comfort to Westerners who are waging the gold war, but the Communist world has its balance-of-payments problems too. The East enjoys a small surplus in the $9 billion-a-year worth of East-West trade. But it needs much more to buy what it wants. So Russia and its satellites are up to new tricks and refurbishing old ways to earn hard Western currencies.

A new Russian agency called Lizenzintorg has the job of selling Soviet industrial patents to the West; it has sold the licensing rights for a continuous casting method...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!