Word: bonnes
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Dates: during 1970-1979
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...Tokyo, Prime Minister Takeo Fukuda announced that he expected appreciation in Bonn for Japan's efforts to reduce its huge surpluses by restraining exports and prodding domestic activity to a 7% growth. Other Japanese policymakers, however, complained that Tokyo's labors will come to naught unless Washington helps out by controlling the dollar. "It will all be in vain if the U.S. does not cooperate," said Economic Planning Agency Director Kiichi Miyazawa. "The fact that our surpluses continue to increase despite our efforts is due mainly to U.S. foot-dragging on her energy problem and inflation." (Another cause...
...chairman, West German Chancellor Helmut Schmidt. After two days of sometimes chummy, sometimes quarrelsome discussions in the tapestry-lined rooms of Bremen's gabled, 15th century city hall, the Club of Nine produced a three-point package that leaders of the four big European states will offer in Bonn...
...pledge obviously put strong new pressure on Carter to curtail U.S. oil imports as well. In return, the Europeans were prepared to offer a concession of their own-an indication by West Germany of willingness to expand its economy slightly, thus complying with a long-standing U.S. demand that Bonn pull its weight and help move the world economy toward real recovery...
Schmidt is likely to be an equally loquacious host in Bonn. Strengthened by the results of last March's parliamentary elections, French President Valéry Giscard d'Estaing also has been exercising more clout. The team of Schmidt and Giscard, in fact, has raised worries among the others about an emerging "EC directorate" composed of the Community's two most powerful members...
White House approval of Schmidt's boa is not necessarily a harbinger of sweetness and light at Bonn. The personal relationship between Schmidt and Carter has been poor and has only recently begun to improve, and the West German offer to increase growth if the U.S. moves to solve its deficit problems will probably not be enough to satisfy Washington. The President, though, will have an unexpected new argument to present to the Chancellor. The biggest source of the U.S. trade deficit is not oil but industrial imports from West Germany and Japan (see chart). Department of Commerce figures...