Word: exportation
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Dates: during 1970-1979
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...were seized during the two world wars. Twice burned, German businessmen were hesitant about reaching abroad again. German direct investment in the U.S. still lags behind the holdings of Britain, Canada, The Netherlands and even Switzerland. Lately the Germans have been hard-pressed to fill booming domestic and export orders and have shown a fresh interest in manufacturing overseas as a way to keep their foreign sales growing...
Gradual Ban. Partly out of indifference, partly because of some real difficulties, Ankara and Paris have been slow to attack the heroin problem. Under the 1961 United Nations convention on narcotic drugs, Turkey is one of eight countries permitted to export opium poppies for medical purposes. Some 70,000 farmers, most of them supporters of the ruling Justice Party, count on the opium produce for at least some of their earnings. The government pays $5 a pound, though many growers sell part or all of their crops on the black market for as much as five times the official price...
...northern Sumatra, military authorities illegally sell export licenses to Chinese merchants-and the licenses are not cheap...
...Germans complain, as do many U.S. businessmen, that much of the Japanese competition is unfair. They say that Japanese manufacturers earn high profits selling in a home market that is virtually closed to foreign competition, then use these profits to subsidize cut-price export sales. The Japanese exporters also get more government help. JETRO, a government-financed trade-promotion agency, conducts extensive surveys that the Germans say pinpoint markets vulnerable to Japanese salesmanship. The Japanese reply that the Germans have simply been complacent...
Next, the Yen? Japan's export success is giving the country some of the currency troubles that became all too familiar in Germany during the past two years. The October revaluation of the mark left the yen as the currency that bankers consider to be the world's most undervalued. Japan has tried various expedients to reduce its embarrassingly large holdings of foreign money and avoid a yen revaluation, which would raise Japanese export prices. For example, the government has increased the amount of foreign currency that Japanese firms can invest overseas without specific permission. So far, speculators...