Word: exportability
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...keep reading, because I don't think they taught us any of this). If a country wants to be prosperous it must produce goods and services that people want. In the short run, it can produce only for its own market, but in the long run the country must export its production to other countries if it wants to increase its standard of living. Exporting brings new money into the country, which allows the nation's companies to build more and better products, which will increase the wages it pays and the number of people it hires. Increased wages...
...question is, which companies produce? Investment banking doesn't help to increase our nation's standard of living. It just provide jobs for a few people who move around the assets other people worked hard to create. We can't export investment banking. Most importantly, investment banking doesn't do much to create new, non-investment banking jobs...
...like 100,000 tons of packaging materials bearing the green symbol of recyclability have piled up in warehouses, farm fields and abandoned aircraft hangers from Hamburg to Augsburg. Much more has been shipped abroad, some of it as far away as Indonesia, helping Germany become the globe's biggest exporter of trash. "This system has made us world-class litterbugs," says Norbert Barth, a spokesman for the environmentalist Greens party. "It is a waste-export system, not a waste-recycling system...
...most contentious point in Tokyo was the Americans' demand for quotas on Japanese imports of U.S. products. But the U.S.'s whining about one export category -- movies, TV, records; in short, pop -- was muted. And that's because America rules: America's market share of movies in Japan is 49.7%, up from 30% just five years ago. In the lands of cinema -- France, Germany, Italy -- Hollywood now accounts for two-thirds of all movie tickets sold, twice the share a decade ago. The standard explanation has been the economics of special effects: only Hollywood can produce the big, dumb, violent...
Japan too finds itself a major target for technological espionage, especially from Russia. Last August, Vladimir Davydov, a trade representative at the Russian embassy in Tokyo, left the country after police charged his Japanese associate with trying to obtain semiconductors and telecommunications equipment that are barred from export. Since World War II, Japan has relied on the U.S. to provide its strategic intelligence, and so it has only small equivalents of the CIA or the National Security Agency, which intercepts and deciphers electronic communications. If Japan joins the U.N. Security Council in a few years, as is likely, it would...