UAW chief wants wage-and-price curbs

United Automobile Workers president Douglas Fraser is calling on the Reagan administration to drop its economic policies and adopt wage and price restraints to stimulate the stumbling economy.

Mr. Fraser said in a speech Monday night to the Automotive News World Congress, ''I'm calling for wage and price restraints - I think the country is ready for that.''

The restraints he called for would be in the form of ''good-faith agreements'' that would not be as stringent as the permanent controls that existed during the Nixon administration in the early 1970s.

Mr. Fraser also said General Motors Corporation should ''rethink'' its $200 million investment in the Japanese automaker Isuzu in return for 200,000 small cars.

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