Word: exporters
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...Since it floated the pound last month, Britain has imposed a whole range of controls on capital outflows, strengthening barriers in force since 1947. Banks are severely limited in dealing in foreign exchange for their own investment purposes. Companies are allowed to buy foreign currency only for import and export deals or for officially sanctioned overseas investment. The rising burden of bureaucratic paperwork could threaten London's role as a world financial center. Says an official of London's Midland Bank: "These days I push paper for the government...
...Administration managed a few deftly staged production numbers of its own, each designed for a special audi ence. For the nation's farmers, there was the news of a $750 million grain sale to the Soviet Union. For the aerospace industry, there was a $150 million export license granted to Boeing permitting the sale of ten 707 jets to China. For the oldsters, there was Richard Nixon's signature on a bill increasing Social Security benefits by 20% ; he protested that its effects would be inflationary, but he put his name to it anyway...
JAPAN'S TRADE IMBALANCE: This is clearly a principal irritant to the U.S., which received $7.26 billion in Japanese goods last year, while exporting only $4.05 billion to Japan. "I am prepared to expend all my efforts to solve this problem. One of the major reasons for it was the recession Japan went through last year." This, along with a revaluation of the yen, slowed G.N.P. growth from an average 10% a year to 4.7% in 1971. "We favor a greater effort to export American goods, not only to Japan but elsewhere. There is an old samurai saying that...
...world last year totaled $612 million, less than the nation's commerce with Colombia. If the events of last week are any indication, however, a new era has begun for East-West trade. The Commerce Department, urged on by President Nixon, granted the Boeing Co. a license to export $150 million worth of jet equipment to China. Representatives of dozens of U.S. firms returned from a high-level meeting in Warsaw aimed at substantially increasing U.S. trade with Eastern Europe. Then, at week's end the White House announced a blockbuster: the Soviet Union has signed a threeyear...
...below the price charged by American companies, and plastic flushing systems for toilets are sold in Africa at 15% less than competitive brands. Most of their output is sold to the Israeli government or large private firms, but the bargain prices are beginning to win a modest export market...