Word: exportability
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...Nigerian economy. When he was elected to his first term, Nigeria was booming as a result of high oil prices and expanding production. As oil prices dropped in 1981 and OPEC tightened its production quotas, Nigerian oil revenues, which normally account for 90% of the country's export earnings, fell from $26 billion a year to $10 billion. The government is currently negotiating with the International Monetary Fund for a three-year loan that will help ease its balance of payments deficit...
...global recession and the debt problems of customers for U.S. agricultural products in the Third World. The strong dollar also made it more difficult for foreigners to buy American grain and encouraged competition from other producers. As a result of all those troubles, the U.S. is expected to export $34.5 billion worth of farm goods this year, a drop of more than 20% in two years...
...They have shown a troubling tendency to ignore Japanese interests when making major decisions. The most notable example occurred in 1971, when, without advance warning, President Nixon devalued the dollar and slapped a 10% surcharge on all dutiable imports to the U.S. Two years later, the U.S. limited the export of all soybeans in order to avert a livestock feed-grain shortage, without realizing that this would cause concern in Japan, where soybeans are a principal source of protein...
...officials have been arguing that the Japanese should be allowed to buy Alaskan oil. That, says Mansfield, would help correct the balance of trade between Japan and the U.S. and also save transportation costs for both countries. But the proposal has been blocked by American laws that prevent the export of Alaskan crude...
...hope to overcome age-old barriers of language and culture with intelligent machines: automatic translation devices coupled with systems that can dispense medical advice, prepare tax returns, design buildings, repair complex electronic equipment. In their vision of the future, fifth-generation computers will be delivery vehicles for the ultimate export products: the know-how and native intelligence of the Japanese people. -By Philip Elmer-DeWltt. Reported by Thomas Levenson/Tokyo