Word: exportation
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Dates: during 1970-1979
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Just how badly the wage increase will hurt the export sales on which Japan is so dependent is still uncertain. Some economists believe that its chief impact will be to weed out inefficient, labor-intensive industries. The government reported last week that April's exports set a postwar record, rising a stunning 61.3% over the same month a year ago. The climb was led by efficient industries, such as steel and shipbuilding, that are benefiting from worldwide shortages. The latest wage increase follows one of 23.6% in 1973 and an average hike of 15% annually during the previous decade...
...Later he founded Subaru of America Inc. and profitably distributed the tiny Japanese-built autos. He has rounded up $20 million in backing, much of it from Philadelphia Banker John R. Bunting and from businessmen in New Brunswick, Canada, where the new car will be made for export...
...than 9% of its value, measured in terms of major foreign currencies, since December 1971. By January, the loss had shriveled to a mere one-half of 1%, but by last week it was back up to 8.1%. The decline makes American products cheaper overseas and thus easier to export. But it also fans U.S. inflation by making imports more expensive. And it adds greatly to the bills run up by tourists, who are still being lured by now outdated airline ads that talk of the dollar's renewed strength in Europe...
...luxuries," or nonessential goods, and fall under the new restriction. In addition to discouraging all but the most necessary purchases from abroad, the measures are designed to take money out of circulation, thus cooling off the overheated economy while providing the state bank with extra funds to assist export-oriented industries...
...that the Soviets last month abandoned their plan for an east-Siberian oil and gas pipeline and instead plan a railroad that would run roughly parallel to the Chinese border some 250 to 300 miles inside Soviet territory. Among other things, it would carry Siberian oil to ports for export to Japan. The Chinese are probably worried by the idea of a railroad, which also could be used to carry troops and arms. Japanese relations with China have been improving recently, and Premier Kakuei Tanaka is unlikely to do anything to jeopardize that budding friendship...