Foreign Trade: An Urge for the Yankee Label

U.S. businessmen don't care much for inflation at home, but they have some reason to cheer when they see it in the other fellow's yard. The reason: it is good for U.S. exports. Right now Europe is plagued by inflation; Robert Marjolin, the Common Market's vice president, last week warned the six member nations that "severe measures" will have to be taken to halt it. Caught in a wage-price spiral that this year alone has boosted wages 19% in The Netherlands, European manufacturers are no longer able to cover increasing expenses out of their earnings, instead are raising...

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