Word: exportability
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Many Asian countries, with the exception of Indonesia, China, Malaysia and Brunei, import nearly all their crude. Since they rely almost entirely on export markets to fuel their growth, they remain especially sensitive to the economic well-being of their trading partners. With oil prices rising and the U.S. economy slowing down, traders in the smaller stock markets are looking glum: in Taipei, shares have plummeted 65% from their year-end high, while the Bangkok market has slipped 40% in just two weeks...
...course, is that he can outlast the embargo decreed by the United Nations and enforced by massed fleets. The odds have to be read against him because Iraq does not have large stockpiles of food, 75% of which it imports; its funds abroad are frozen; and he cannot export his oil. But with tight rationing and scrimping, and some leakage of supplies and spare parts, the country can probably squeak through from several months to a year or more of blockade without giving in to Western demands...
...terms of directional clarity," says a Bush adviser, "this has all been an easy call. Even a dolt understands the principle. We need the oil. It's nice to talk about standing up for freedom, but Kuwait and Saudi Arabia are not exactly democracies, and if their principal export were oranges, a mid-level State Department official would have issued a statement and we would have closed Washington down for August. There is nothing to waver about here." What Saddam offers the President, says another White House aide, is "a case where he knows what's right, he knows what...
...world of luxury, which ranks alongside aerospace as France's primary % export industry, Hermes likes to call itself "a firm apart." It has resisted predatory takeover artists who have swallowed up such venerable family strongholds as Louis Vuitton and Lanvin. It has refused to license its name to sell discount luggage a la Pierre Cardin or mass-produced hosiery a la Christian Dior. But what really makes Hermes different is its stubborn adherence to century-old manufacturing techniques. "Hermes is an anachronism," says Gene Pressman, executive vice president of Barney's, the upscale clothing chain. "It's about quality that...
France and China in 1988 formally approved use of the drug, and Roussel will shortly apply to market it in Britain. The company has refused to export it to any country unless several conditions are met, including the legality of abortion and its acceptance by public, political and medical opinion. According to Ariel Mouttet, head of international marketing for RU 486 at Roussel, the sticking point in the U.S. is the political climate. Says she: "We don't want to enter into a social debate...