Word: exportability
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...harder line toward any country that expropriates American property and fails to promise "prompt and adequate compensation." The chief spokesman for that point of view is Treasury Secretary John Connally. He had the U.S. pointedly abstain from voting for World Bank loans to Bolivia and Guyana, and had the Export-Import Bank refuse a $21 million credit to Chile for the purchase of three Boeing passenger jets. Although he denies it publicly, Connally has been heard to say in private that "the U.S. can afford to be tough with Latin Americans because we have no friends left there." Apparently acting...
...allow the Japanese yen to float against the dollar. This was probably an unavoidable decision for Sato, but it was especially painful and will produce wide-ranging economic woes for Japan. By in effect increasing the price of the yen, Sato dulled the cutting edge of Japan's export drive, not only in the U.S.-which buys 30% of all Japanese exports-but throughout the world. Beyond that, a floating yen proportionately decreases the value of Japanese dollar holdings, which now total $11.3 billion. Japanese shipyards, which currently hold more than $5 billion in construction contracts written in dollars...
...Deutsche Mark against the dollar. Naturally, the dollar thereupon began to drift downward. Then came Sato's surprise announcement. In a seesaw effect, the dollar began to move back up, reflecting a feeling among investors that higher prices for Japanese goods worldwide would help boost U.S. export sales. By the close of business Friday, the mark was being traded at 3.40 to the dollar, a functional revaluation...
...himself?by forcing other nations to revalue their currency upward against the dollar rather than by declaring a lower value for U.S. currency. By making the dollar worth less abroad, he automatically turned U.S. goods sold there into a better buy?and thus increased the nation's sagging export potential. At the same time, investment in foreign businesses will become less attractive to U.S. corporations, stemming the outflow of capital that helped fuel speculation against the dollar abroad...
Just how long that move might halt the increasingly frequent runs on the dollar is uncertain. But it may be the only major reform possible in the immediate future. European nations are not anxious to lose export sales, as they would if they raised the value of their own currencies. In the U.S., the President cannot reasonably be expected to declare any kind of dollar devaluation until after the 1972 election...