Word: exportability
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...Haig might have done, threaten to quit if the policy was not reversed. Instead, he acted more like a reassuring but lucid tutor with Reagan. He knew that the President would not abandon his wish to punish the Soviets. Shultz's basic stance was that restrictions on the export of advanced Western technology to Moscow, if the ban had the support of all NATO allies, would far more effectively prick the Soviet economy than would a problematic pipeline-equipment embargo. The Secretary raised the issue of American economic self-interest as well, pointing out that U.S. pipeline suppliers were...
...undercover agent but as a skilled, avaricious wheeler-dealer, exploiting contacts and expertise built up after years of "Company" service. After deliberating only 4½ hours, the five-man, seven-woman jury last week sided with the prosecutor's views that greed, not patriotism, had led Wilson to export an M-16 automatic rifle and three pistols from the U.S. to Libya in 1979. It convicted him on seven counts of arranging to transport the guns, samples of a promised larger shipment that later won him a $22 million contract to arm and train Libyan fighters. He faces...
JAPAN. For decades, export has been the engine of Japanese expansion. Domestic consumption has taken a back seat to investment in industries that could sell products overseas. Suddenly, the global slump has thrown that strategy into jeopardy. Japanese exports have fallen by 10% in the past year. "There are no more Japanese miracles," said Board Member Saburo Okita of Japan, president of Tokyo's International University, who explained that lack of purchasing power everywhere was causing stagnation...
Other members of TIME'S board suggested that the Japanese government should respond to the export shortfall by increasing spending to stimulate domestic consumption. Okita countered that such a course would be difficult because the government is already running a revenue deficit equal to 30% of its expenditures...
Because of a third consecutive dismal harvest, the Soviets had to import 46 million tons of grain last year, or nearly 20% of their consumption, at a cost of $7 billion or more. At the same time, the sinking market price of oil, the chief Soviet export, cut earnings from energy sales. Result: a hard-currency deficit with the West of $4 billion. To help close that gap, the Soviets sold some 250 tons of gold in 1981 to raise about $3 billion...