Word: exporter
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Forecasters agree that U.S. exports will be the main engine for whatever growth is achieved in 1988. "The export industries appear to be out of the woods," says Thomas Swanstrom, chief economist for Sears. David Hale, the chief economist for Kemper Financial Services in Chicago, predicts that exports of manufactured goods could jump 15% to 20% next year, at the expense of America's trading partners. "We are going to increase our market share," he says, "largely by cannibalizing the foreigners...
What has happened to the Italian renaissance, the new economic miracle? Observes Olivetti Chairman Carlo de Benedetti: "The party's over" -- although he hastens to add that "the party's over in the world economy." Italy may export truffles to France, but these days it also imports its eggs, milk and even its breadsticks. Worse, the cheap dollar means that Italian shoe and clothing exports are not selling very well in the U.S. Moreover, Italy's trade deficit this year, at more than $6.6 billion, is already twice the 1986 level...
Pentagon officials were especially frustrated by the Consarc case because the technology breach was potentially devastating and perfectly legal. Consarc even managed to persuade the British Trade Ministry to insure the project for $11 million. Growled Stephen Bryen, who heads the Pentagon's export-control program: "This was an instance of really bad licensing by the British. It was an absolutely squalid case...
...part, the U.S. announced last month that it will offer to eliminate all licensing requirements for the export of militarily sensitive technology to its Western allies, provided that those countries will tighten their controls governing the export of goods to the Soviet Union. The goal is to allow products to move more freely within the walls of COCOM, even as those walls grow higher and harder for outsiders to breach. That might help American firms reduce what is now a trade deficit in high-tech goods, without doing so at the expense of the country's security...
...smugglers continue to ferry America' s high- tech secrets from West to East, authorities struggle to fortify an export- control system that is overloaded, underfunded and outdated. -- The crusaders against insider trading score an important victory in the Supreme Court. -- CBS sells its records division, making Sony Springsteen' s boss. -- In Mexico, panic pummels the peso...