Word: exportability
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...Khomeini's blessing, the troubles plaguing the country will not vanish overnight. As one U.S. specialist noted: "The Shah left, but he didn't take the problems of the country with him." The best estimates are that it will take two months to get the oilfields back to export production lev el even if work starts at once. Meanwhile, the country has a paralyzed economy and shattered loan credibility. Except for two to three dozen firms, all of the country's 600 major industries have been shut down by strikes since early December. And, although they may not be missed...
...problem may soon lead to some difficult negotiations over East-West trade. At issue is most-favored-nation status (MFN), whereby a foreign country is able to export goods to the U.S. at much lower tariff rates. Actually, MFN is a misnomer, since over 95% of the U.S.'s trading partners enjoy that status. Only a handful of Communist countries, including China and the Soviet Union, face discriminatory tariffs that in some cases are double. The Soviet Union is barred from MFN by the Jackson-Vanik amendment to the 1974 trade bill, which links commercial opportunities for Communist governments...
Both Moscow and Peking want MFN, along with U.S. export credits, in order to have freer access to American markets and to attract American investment. MFN could increase Soviet-American trade by an estimated 10%, and Sino-American trade still more. U.S. business generally supports trade preferences for both the Soviet Union and China, but Capitol Hill is in no mood to do Moscow any favors, given what many legislators see as Soviet mischief-making in Africa, the Middle East and Indochina. As for human rights, the number of people being allowed to emigrate from the Soviet Union...
...foundation controls 96 such enterprises; the rest are either fully or partly owned by the Shah's relatives. Among other properties, these holdings comprise industrial complexes, office buildings, sports clubs, mining firms, entire villages, warehouses, interests in foreign companies, vast tracks of real estate, and import and export facilities. Whatever may be done about those, probably beyond Khomeini's reach is the array of the Shah's and his family's palatial retreats in London, Switzerland, New York City and France, not to say an island in the Seychelles and choice acreage in Beverly Hills...
...anyone doubts the potential for export, let him consider the case of China. Not long ago, that market seemed hermetically closed. Now Western businessmen dream of selling just one handkerchief to each of the 1 billion Chinese; that would be enough to keep two or more big textile plants rolling for a year. Lyet got onto that new frontier rather early. He visited the Middle Kingdom more than a year ago, and soon thereafter Peking placed with Sperry one of its first significant orders for Western computers...