Since 1960 there has been a remarkable expansion of East-West trade. Over the period 1960–73 its value grew at the average annual rate of 15.8 per cent, compared with 12.4 attained by the world as a whole. The rapid increase in the Western export of machinery and transport equipment to the Socialist countries is the most notable feature of this expansion, so that their share has risen from one-quarter to one-third of the total. As one would expect, the Western import of these two categories of manufactures from the East has been much smaller, the proportion being less than one-tenth of total imports. For details, see Table 5.
KeywordsForeign Trade Multinational Corporation Multinational Company Socialist Country Technology Production Line
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