Cold War Era International & World Trade: 1952 TV Interview

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This episode of the Longines Chronoscope with Frank Knight featured Eugene S. Gregg, a member of the US Council in the International Chamber of Commerce. He came on the show to help promote international trade. Improving the international community and promoting trade will increase all standards of living. The Iron Curtain has cut off many Western European countries from timber, coal, and grains that they normal obtained form Eastern Europe before the war. They are currently receiving only small amounts of these materials from behind the Iron Curtain. Russia and the United States both put heavy restrictions on what can be imported and exported across borders. Russia even is willing to sell coal extremely cheap to undercut American support in Italy. Increasing American investments in Western Europe is one way to help the situation right now. Currently, the US has many investments in Canada, Venezuela, Saudi Arabia, and Liberia. Once there are some trade barrier reductions and Europe will be able to work its way into our economy and gain strength. The US has to be careful because Japan looks to suffer from the same problem. Its former primary trading partner, China, has put restrictions on its exports. Attention needs to be directed toward Japan also to ensure it does not also fall.
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