Word: exportation
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Dates: during 1970-1979
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...Hubert Humphrey promised protection that would hold back imports of wool and man-made fibers by international agreement, much as cotton textiles have been restricted since 1962. Textiles today are less important to Japan's trade balance than they once were; that country has been switching its export emphasis to costlier and more complex products, like television sets and turbines. But the Japanese fear that if they yield on textiles, they will face similar demands for quotas on other goods. The U.S. electronics industry has already asked Washington's tariff commission to investigate alleged Japanese dumping...
...payments balance had swung from a horrendous deficit in 1968 to a handsome surplus in 1969. The basic surplus in 1969 was $929 million, the highest ever recorded. Furthermore, in the year's last nine months there was a favorable balance on "visible trade"-the import and export of goods. Britain has earned visible surpluses in only two years since 1822, relying traditionally on "invisibles"-earnings on overseas investments, services and tourism-to cover its trade gap. Clearly, the country has taken a major step toward solvency: in the past 15 months, Britain's short-and-medium-term...
...payments surplus, the British have sacrificed economic growth, which has been running at an annual rate of only 2%. They have also held down industrial investment and allowed unemployment to rise to 2.7%, which is high by British standards. Those measures reduced domestic demand, thus forcing manufacturers to export more. The basic consumer demand remains; as taxes and interest rates move lower, it could spurt again...
Swiss watchmakers are also being pressed by the Soviets, primarily in the less expensive lines. The U.S.S.R. has 6% of the world export trade for watches, and dumps another 3,000,000 movements a year that sell for as little as 500 apiece, mostly in Asia and Africa. Often these cheap pin-lever works turn up in bogus Swiss casings with labels that might easily be mistaken for some of the world's best-known brands...
...their richest export market-the U.S.-Swiss watchmakers face rising competition from domestic manufacturers in all price lines. U.S. Time Corp., which prices its Timex models as low as $7.95, claims to sell more than 50% of watches bought in U.S. stores. Bulova, biggest American producer of jeweled-lever watches (1969 sales: $159 million), is an increasingly tough competitor in the medium-and high-priced range. Swiss manufacturers lost their technological lead when Bulova developed the battery-powered Accutron a decade ago. The company has since sold more than 1,500,000 Accutrons and brought the price down...