Word: exportation
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...With the Dow still dropping, traders will be watching the Export and Import Prices report tomorrow for confirmation of what we all suspect: that economic problems and weaker currencies in Asia are causing cheaper goods to flood into the U.S. while weakening the markets for domestic goods and services abroad...
...these items require export licenses, and each satellite sale must win a waiver from sanctions imposed after Tiananmen. Every waiver requested has been granted: nine by former President Bush, 11 by Clinton. Critics are asking whether Clinton made the process dangerously easier by transferring responsibility from the security-minded State Department to the sales-eager Commerce Department two years ago. Such sales, says a Pentagon official, "are a manageable problem," but the U.S. "should err on the side of caution...
...even the non-fab world had been forced to take notice of this all-conquering cultural force. The Beatles had become such a huge British export that they were given a royal award: the Member of the Order of the British Empire, or M.B.E. (They took this about as seriously as anyone might have expected, all four of them firing up a joint in a Buckingham Palace washroom before the ceremony, and Ringo commenting on his M.B.E., "I'll keep it to dust when...
...interest. Under pressure from American corporations desperate to get their satellites into orbit, Bush issued nine such waivers between 1989 and 1992--and Gore denounced him as "an incurable patsy." But after Clinton was elected President, he came under the same pressure from business leaders, who argued that the export controls endangered America's telecommunications primacy. Clinton began signing the same waivers (there have been 11 on his watch). In 1996, an American company, Loral Space & Communications, used a waiver to export a $200 million satellite that was destroyed when the Chinese rocket carrying it into space exploded...
...another special prosecutor to investigate President Clinton, Newt Gingrich will settle for the next best thing: A House committee. The Speaker said he'd seek (and likely get) a bipartisan panel to look into whether the President's insatiable need for cash prompted the White House to promote the export of classified missile technology to China. Both the White House and Loral, the U.S. aerospace contractor that worked with China, say they didn't give the Chinese any information they couldn't obtain by reading the latest edition of Janes...