CHINA: The Little Red Order Book

Even before President Nixon lifted the embargo on direct trade with China (see THE WORLD), some of America's largest companies were breaking into Mao's market. Among them: General Motors, Monsanto, Hercules, Cummins Engine and American Optical. U.S. business with the Chinese has risen from nothing in 1969, when the Administration first began easing trade restrictions, to $3,500,000 last year.

All of the deals have been made through the third parties or foreign subsidiaries of U.S. firms. American companies have been barred from doing business directly with China, and Peking has professed a distaste for dealing head-on with "American imperialists."...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

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