Word: exportation
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...argues that the arrangement would affect the livelihood of many Japanese and South Korean rice farmers, threaten textile workers in Europe and the U.S., and create problems for factory workers at inefficient plants worldwide. Such losses should, in theory, be offset by new employment in export-related industries, where wages are usually higher than average -- 17% higher in the U.S, for example. An accord should also lower prices for consumers, who ultimately pay the hidden costs of protectionism. A U.S. family of four pays as much as $420 a year more for clothes than necessary, thanks to high U.S. textile...
...president of AAC Systems, based in Pasadena, California, a company that sells computerized cost-control systems for large telephone networks. "Sony can snap out a Walkman, but they can't send you a technician to fix it." The priority given by foreign buyers to quality and service allows American exporters to de-emphasize price cutting, which is one reason export-related jobs in the U.S. pay on average 17% more than jobs that produce goods sold only domestically...
...export growth won't excite American workers very much until they see more of the benefits that American businesses are reaping. For three decades after World War II, higher American wages followed closely upon improvements in productivity. That stalled when companies grew bloated in the 1970s and early '80s. After the widespread layoffs that ensued, labor found itself in a weakened position, which allowed employers to hoard the new gains as productivity turned back...
...cook in a Beijing restaurant. Today he is a business tycoon who wears a diamond-studded Rolex watch and owns two Mercedes-Benz and a red Ferrari. Ten years ago, Chen Xiaohan was a steelworker in a mill near Beijing. Now he manages a state-owned import-export company and drives around in a Cadillac with a mobile phone. Wang Guoqing quit his job at the Bank of China in Xian three years ago and is now a multimillionaire retailer, restaurateur and real estate developer who wears Pierre Cardin suits, Italian shoes and a $2,000 Swiss watch...
Latin America will understand a rejected NAFTA to be a deliberate effort to prevent closer ties with Latin American countries. NAFTA is much more than lowering tariffs to export more American goods into the growing Mexican market; it is much more than taking advantage of lower Mexican wages and providing cheaper products for the American consumer. For Mexico, the agreement is about raising the living standards of millions of its citizens; it is the affirmation, the final step, in a series of difficult reforms that have been undertaken in order to stabilize its economy enough to be a legitimate participant...