William E. Knox, new president of Westinghouse Electric International Co., has a simple, realistic philosophy about foreign trade: "You can't do business with a poorhouse." Conceding that exports will boom for a while, he believes they are bound to fall off after a few years to the prewar level, or below.
The solution, says Knox, is to make the poorhouses richer by selling them what they most need: U.S. know-how. Last week, as a starter in his new job, Knox made just such a deal with China, one of the poorest of...
To continue reading:
or
Log-In
