Word: exportable
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Dates: during 1990-1999
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...growth in domestic R. and D. spending, productivity and investment than from trade. Moreover, his proposals to raise tariffs sharply and pull the U.S. out of international trade agreements would cause much more economic pain than they would ease. Liberal trade policies have created more--and better--jobs in export industries than they have wiped out in those businesses hurt by imports. Even the much despised movement of American factories to Mexico and other low-wage countries has been offset--in job creation, though not in hoopla-by the opening of foreign--owned plants in the U.S. It would take...
...down; Buchanan's estimate of 300,000 wiped out as a result of the NAFTA treaty with Mexico and Canada seems plucked out of thin air. To the losers, though, it is a statistical abstraction to argue that the losses have been more than offset by job gains in export industries. Honda's success in Ohio does nothing to help Watsonville, California (pop. 33,798), where the unemployment rate has jumped to close to 20%. A number of vegetable-freezing plants there have shut down, and the owners of some have moved operations to Mexico...
...cars. But among economists, an otherwise squabbling breed, there's something like a consensus that for the great majority of American workers, free trade is a long-term boon that delivers better bargains on consumer goods and boosts demand for the products of America's fast-growing, high-wage export industries. More important factors in holding down wages are automation, sluggish growth in productivity and consumer demand for lower-priced goods, whether foreign or domestic. Tariffs against shirts made in China might help workers in America's shrinking garment industry; they won't do much to protect secretaries replaced...
...today making sure that they will all get out and vote tomorrow." In one of his few scheduled public appearances Monday, Dole launched an attack on the protectionist trade stance of Pat Buchanan. At a high-tech computer company in Rochester, he said Buchanan's proposals would put the export-reliant plant out of business. "Dole looked better today than I've seen him in a long time," reports Edwards. "He's been taking things easy today, spending most of his time making sure that every bit of his large, well-organized campaign machinery in the state is working...
...most economists still expect continued growth this year--and they do--that is partly because they think the Fed will cut interest rates some more. They further expect business spending for new plant and equipment and strong export sales to take up slack from consumers. Also, says economist Bernard Weinstein of the University of North Texas, "you don't have a recession in an election year...