Word: exporters
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There have been misunderstandings aplenty in this classic clash, and lessons to be learned on all sides. First, the ranchers, who overreacted to a rather modest increase in quotas, should recognize that freer trade will ultimately benefit them. America's potential for export to a beef-loving world is enormous, and ranchers cannot exploit it while clamoring for rigid quotas...
...growth goal for this year "appears within reach." At the same time, the rate of inflation has fallen from a 1974 high of 21% to a manageable 4%. Yet simultaneously, there is a slowly dawning consensus among Japanese leaders and businessmen that the good old days of whizbang, export-led growth are numbered. Indeed, go-for-broke Japan is now retrenching for a new era of go-slow growth, in which gross national product is expected to expand at about half of its former clip...
...Liberalizing Export-Import Bank loans to finance not only foreign buyers of American goods but export-related plant and equipment spending...
...Providing new tax incentives for exporters, including credits for firms that set up overseas sales offices, and faster write-offs on export-oriented investments...
...Intensifying Government support for business research and development of new products for export, in such areas as telecommunications, computers and electronics...