Co(uncil for) M(utual) Econ(omic Assistance)
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In June, as the last Chinese aid technicians went home, Hanoi yielded to longstanding Soviet blandishments and formally jumped into Moscow's economic orbit as a member of the Communist trade alliance, COMECON.
From Time Magazine Archive
Gorbachev also hinted that he would like to see direct relations, presumably to facilitate commerce, between the European Community and COMECON, the East bloc trading group.
From Time Magazine Archive
Hanoi first joined COMECON, the Soviet-bloc economic organization, then signed a 25-year treaty of friendship and cooperation with Moscow in November.
From Time Magazine Archive
The agency driving to build this unheralded rival to Western Europe's powerful six-nation Common Market is the Council for Mutual Economic Assistance, or COMECON.
From Time Magazine Archive
The expansion of relations beyond the Soviet alignment system was cautiously initiated in the mid-1950s by the Gheorghiu-Dej regime when pressures were building for Romania's full economic integration into COMECON.
From Area Handbook for Romania by Bernier, Donald W.
Historically, the Comecon system has encouraged inefficiency, low-quality production and poor planning.
From Time Magazine Archive
The country has also developed new markets to replace those lost when Comecon collapsed; more than three-quarters of its exports go to the West.
From Time Magazine Archive
Prague also took the lead in announcing its intention to reform or disband Comecon, the communist trading bloc whose rules have skewed supply and demand, and therefore the production, of a vast array of goods.
From Time Magazine Archive
Our economy was based on specific trading patterns within Comecon.
From Time Magazine Archive
Comecon, the alliance's economic union, is crumbling as members scramble to cut separate deals with the West.
From Time Magazine Archive
Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
