Word: exportability
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Dates: during 1970-1979
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Underpopulated, oil-rich lands like Saudi Arabia, Kuwait and the United Arab Emirates are clearly less capable than countries like Iran and Venezuela to buy up Western exports, but they have been funneling loans and grants to other, more crowded Arab nations eager to join the shopping spree. Says Yale Economist Richard Cooper: "Once you start giving to Egypt, there's a lot of money that can be spent." The industrial countries, which are generally short of capital, could use OPEC surpluses invested in their economies to create additional goods and services for export...
...ordained rabbi before going into business, Black in 1967 acquired John Morrell & Co., an ailing $800 million meat packer, which he merged with United Fruit Co. in 1970. Throughout 1974 a series of crises bled Black's empire: hurricanes wrecked Honduran banana plantations, Central American governments imposed heavy export taxes, and the cost of feeding cattle skyrocketed. Since November, when United Brands reported losing over $40 million in the year's first three quarters, Black had worked 16-to 18-hour days...
...from the secret police. Hoping that publicity would jog the authorities, Victoria turned to the Western press. She told reporters that she fears her career is in jeopardy. Although she was the cover girl of Soviet Screen last March, her picture has been removed from the official Soviet film-export office in Moscow, and her bosses have grown markedly cool...
Some Government agencies, he argues, give perverse incentives to export scarce goods like wheat and cotton, and to export credit, which allows rich countries to buy U.S. goods at less than market prices. Last year Reuss suggested the creation of a congressional price-supply ombudsman to act as watchdog over rising prices. Finally, he would finance a tax reduction for low-to middle-income Americans by, among other things, closing loopholes such as untaxed capital gains at death, hobby-farm deductions, and tax-exempt interest on bonds...
...Swiss are upset because the franc's dramatic rise is increasing the cost of Swiss goods and services to outsiders and thus endangering the export and tourist industries that account for 40% of the country's gross national product. In part the upward march of the franc-and other currencies-against the dollar reflects a continuing uneasiness about the strength of the U.S. economy that backs it. The main cause of the franc's extraordinary rise, however, seems to have been some heavy purchases of Swiss francs in the past few months by Middle East governments trying...