The recent and continuing international trade and money crisis -- touched off by J.S. President?
The recent and continuing international trade and money crisis -- touched off by J.S. President Nixon's economic policy pronouncements -- has come at the wrong time for the organisers of a Frankfurt trade exhibition. The International Autumn Fair, which began on Sunday (29 August) and ended on Wednesday (1 September), saw both the number of exhibitions and visitors greatly decreased over previous years.
Previously large exhibitors, the United States and Japan have virtually no representation at this year's event. Central to the problem is President Nixon's plan to impose a 10 per cent surcharge on all imports to the United States. But international investors are also wary of the floating status of major currencies, such as the German deutchmark, the Japanese yen, and the U.S. dollar.
The International Autumn Fair has suffered from this, with resulting vacant exhibit stalls, deserted fair grounds, and virtually empty tour buses. VISNEWS cameraman Rudi Heimann filmed this report on the opening day of the fair.