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. The European challenge for exports at the beginning of the 1950s After an initial phase of reconstruction, a new form of competition in foreign trade emerged in Europe in the years following the Second World War. Long payment terms began to be offered by producers to buyers for their goods and services. This didn’t depend on the technical time required to complete supplies, as it was the case before the war, but mainly on the needs of developing countries that intended to make investments in industry or infrastructure without having all the necessary capital. Deferred payments allowed them to pay for investments made in production or infrastructure over time
