ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Vice-Chancellors-A Command Performance

DURING 1974, total value of world trade amounted to a staggering $ 825 billion; but this 44 per cent increase in value terms was misleading. In real terms, the growth rate, at five per cent, was relatively smaller than even the six to eight per cent growth earlier forecast by GATT in its annual report on world trade for 197-3. Even so, this was a remarkable performance considering the many odds faced by the world economy. The steep increases in petroleum prices in 1974 had made all oil importing countries anxious about their balance of payments situation. At the same time, the real factor propelling expansion of trade

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