Word: exportability
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...Argentine economy: As you well know, we are facing a very difficult ( situation, with an external debt in the neighborhood of $48 billion; 60% of our export earnings go to service that debt. The world price of grain has fallen by 20% to 25%, and because of that we have lost $850 million in potential income, despite a record harvest. Trade agreements discriminate against Latin America. We are having problems selling some of our products abroad. Yet to pay our debts we must have foreign currency, and to earn foreign currency we must export. An even greater problem...
Faced with such resistance, some U.S. corporations have tried to crack the Japanese market, stumbled and pulled out. Says the president of a Massachusetts high-technology company that continues to export to Japan: "In areas where the Japanese feel they are strong, they set up a reasonably level ! playing field. But where they are at a disadvantage, they change the rules...
...emphasis given to the military, which absorbs an estimated 14% of the economy's total output, has long meant sacrifice for the Soviet people, and that sacrifice may worsen. In the past year Moscow has been able to generate enough export earnings to pay for most of its imports. Since 1983, however, world prices of such key Soviet natural resources as oil and gold have been falling dramatically. Moreover, Soviet oil production declined by .5% last year, the first drop since World War II. Even though supplies of natural gas are plentiful, export figures have lagged well below Soviet expectations...
...will exert an increasing drag on the current recovery, high rates force the government to devote more and more taxpayer money to paying interest on the debt, thereby removing these funds from more productive uses. Furthermore, the major threat stemming from an overvalued dollar is that it makes American exports relatively expensive and foreign imports relatively cheap, thus injuring export-oriented American firms and our overall ability to compete in the world market. The end result; a loss of jobs here and an erosion of our standard of living...
...Urban Institute's George Peterson argue that the national Government should help out when it adds to local costs by establishing new standards, as it did in 1972 for water-treatment plants. Other urban advocates argue that welfare payments should be a federal responsibility, since many tightfisted communities export their poverty burden to more generous cities. New York City's Deputy Mayor Alair Townsend points out, for example, that about 14% of the homeless women and 8% of men living in the city's shelters are from out of town. Says Townsend: "These people gravitate to New York when things...