Word: exportability
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...Says Hornik: "That background was really useful as I tried to discern how far its economic reforms have taken China from orthodox Marxism-Leninism." Stationed in Peking since April, Hornik has traveled widely: to Shanghai twice, to Canton and to Shenzhen, one of China's foreign trade and export zones. Perhaps his most absorbing trip was to the huge heartland province of Sichuan. Says Hornik: "It gave me a better feel for China than any other region that I have been to. Until you see the ageless rice paddies of Sichuan, you cannot begin to understand how far China...
...months later, the leadership announced that it was taking a fresh look at the so-called Special Economic Zones, like Shenzhen, which borders Hong Kong, and Zhuhai, south of Canton. The zones were created in 1979 to attract foreign investment and foster export trade while concentrating foreign influences in coastal areas. Shenzhen, Zhuhai and two other such zones apparently performed less satisfactorily than expected. As a consequence, plans for 14 similar enclaves were scaled back. Where Deng once described Shenzhen as a major element in his economic program, he now talked of it as an "experiment." "We hope it will...
...TIME board cautioned, however, that the bloated trade deficit cannot be completely closed in the foreseeable future, so imports will continue to dampen growth. "The pillars of our export strength are badly eroded," said Rimmer de Vries, chief international economist for Morgan Guaranty Trust. He noted that the U.S. is losing some of its foreign farm sales because output abroad is up sharply. Concurred Robert Hormats, a vice president of the investment banking firm Goldman Sachs and a guest at last week's meeting: "Europe is exporting poultry, beef and all the things we sold them...
...export of most nuclear technologies and materials to South Africa will be prohibited...
...military leaders was to reopen stalled talks with the International Monetary Fund on rescheduling Nigeria's unmanageable foreign debt, now estimated to be $22 billion to $25 billion. Half of all Nigeria's annual oil revenues ($12.4 billion in 1984), which account for 95% of its total export earnings, are believed to be sucked up by interest payments on the debt. Moreover, as the world price for crude oil has declined over the past four years, Nigeria's revenues have been cut in half. Buhari had been seeking an IMF loan of $2.5 billion to $3.5 billion to help deal...