Word: exportability
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...they were beginning to slide into deep debt by the time the second major oil-price hike came in 1978-79. Now they find themselves pinned down by a combination of events, each of which, by itself, would be troublesome enough: a lingering world recession; high interest rates; slumping exports and generally flat trade; increasing protectionism in the industrialized countries; and low commodity prices. Interest payments fall due, and national treasuries must strain to the limits to pay. Everywhere the cost of servicing debt is swallowing an increasing percentage of export earnings. Though some of the biggest borrowers have owned...
...flow of imports from the Third World (see ESSAY). Demand for the developing nations' products, mainly raw materials, slumped. As a consequence, between 1980 and today, world commodity prices, excluding oil, have fallen by 35% to the lowest real levels in three decades. Sugar, a principal Brazilian export, dropped from $495 to $120 per ton; Zambia's copper price plunged from 950 per Ib. to 690. Tanzania's President Julius Nyerere put it plainly: to buy a seven-ton truck in 1981, his country had to produce four times as much cotton, or three times as much...
...developing countries found themselves in a classic squeeze: rising debt costs eating up ever larger chunks of declining export earnings. In 1981, Third World economies grew by an average of only 2.2%, a sharp decline from the halcyon days of the 1970s. Says Robert Solomon, a former U.S. Federal Reserve economist who is now at the Brookings Institution in Washington: "It cannot be overemphasized that the recession and high interest rates
There are potential conflicts of commitment and potential conflicts of interest whenever a member of the faculty is involved with extra-university entities. Let us here-consider the specific issues surrounding the involvement of a member of the faculty with a company seeking to export university based research...
These nations and many others are in a financial bind partly because they are dependent on exports to the U.S. and those shipments have been slowed by the American recession. In turn, sluggish growth overseas has hurt American export industries. Two-way trade troubles have thus created a self-sustaining downward spiral that is difficult to stop...