Word: exportation
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Dates: during 1970-1979
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Reports TIME Hong Kong Correspondent Ross H. Munro: "The Chinese export some $2 billion a year to the colony. They earn a further $2 billion in remittances from Hong Kong residents to their relatives on the mainland and from some 50 Hong Kong-based companies that the Chinese control in shipping, banking, retailing and other fields. Trusted Chinese are assigned to work in these ventures to learn Western management methods. Now the Chinese are trying to draw both investment money and expertise directly into China. This could transform the Hong Kong economy in the next few decades. Hong Kong...
...more expect to set up shop there by year's end. For example, Hong Kong's Asia International Electronics Ltd. sends components for its radio/tape cassette players to factories in Peking, where they are put together before being shipped back to the colony for final assembly and export. The Chinese workers are paid $25 a month, less than one-sixth of what A.I.E. pays its Hong Kong employees. Soon the Chinese will be assembling A.I.E. television sets, which will be sold in the U.S. under the "Williamsons" name as well as under private labels of K-Mart...
Customers in two dozen countries will soon be spending less than they ordinarily would for a wide variety of imports, ranging from cheese to autos, and that will help slow inflation. U.S. export sales should pick up for industries as diverse as hospital equipment, chemicals and data processing, creating more jobs. American farmers should get easier access for their goods abroad, helping to narrow the huge U.S. trade deficit...
...agreement comes at a time when the U.S. is poised for an export surge because the depreciated dollar makes American goods bargains in the world. After three years of almost no real growth, exports in 1978 jumped 18.5%, to $143.6 billion. More sales will be needed to help close the gap between imports and exports that last year totaled $28.5 billion. So now it is up to U.S. businessmen to take advantage of the lower barriers-and sell...
LICHTBLAU: We should use our surplus of natural gas to fuel industrial plants and utilities. Coal-powered electricity plants in the Midwest could export surplus electricity to the East and replace imported oil. One of our greatest errors was not to build up our strategic oil reserves. Had we done so, the Iranian cutback would have had less of an impact. We should move full speed ahead with the reserve plan now because there will be another crisis some time down the road...