TRADE: Ship Me a Pepsi, Please!

Ship Me a Pepsi, Please!

At first the deal sounds like a bad perestroika joke: How many bottles of Pepsi can a Soviet citizen buy with a merchant ship and a case of vodka? But the barter agreement that PepsiCo and the Soviet Union signed last week is worth a serious $3 billion. In the largest deal ever struck with an American company, the Soviets will trade ships and spirits for expanded Pepsi production. The complex barter system was necessary because the ruble is not readily convertible to Western currency. PepsiCo, which currently produces 40 million cases of soft drinks in the U.S.S.R. each year, will...

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