Word: exporters
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...World War II had ended differently, Germany and Japan today might be waging a cold war for military-political supremacy in other countries. Instead, their rivalry is commercial. Thanks to the first postwar "economic miracle," the Germans got a long head start in penetrating world export markets. Even in 1968, West Germany's total exports of almost $25 billion were nearly double Japan's exports of not quite $13 billion. But generally lower-priced Japanese goods have been slicing into the German lead so sharply in so many areas of the world that some Germans are anxious about...
...Japan's yards now build more than half the world's shipping tonnage, German yards less than 9%. The Japanese say that some of the German orders come from shippers who were turned down by Japanese yards that are booked to capacity for years to come. German exporters are losing their markets in China and the rest of Asia to the Japanese, and are being pushed increasingly hard even in Europe. For example, an official of Zeiss Ikon says that Japanese Pentax cameras sell in Switzerland, Holland and Sweden for 5% to 7% less than the comparable Zeiss...
...Germans complain, as do many U.S. businessmen, that much of the Japanese competition is unfair. They say that Japanese manufacturers earn high profits selling in a home market that is virtually closed to foreign competition, then use these profits to subsidize cut-price export sales. The Japanese exporters also get more government help. JETRO, a government-financed trade-promotion agency, conducts extensive surveys that the Germans say pinpoint markets vulnerable to Japanese salesmanship. The Japanese reply that the Germans have simply been complacent...
Much of Nixon's tough new trade policy bears the imprint of Commerce Secretary Maurice Stans, who calls it the first "fullscale attack" against "covert forms of protectionism which discriminate against American exports." In a talk last week to the National Foreign Trade Convention in Manhattan, Stans also promised U.S. exporters additional measures of practical aid. One would add some $750 million to the Export-Import Bank's funds. Exporters can now borrow only limited amounts at the bank's 6% interest rate, and must finance the rest of their sales with private loans...
...Smith, the Prime Minister of Rhodesia's all-white government, which rules a black majority, declared last week that his country was growing stronger despite the United Nations sanctions against it. Though U.N. member states are supposed to boycott Rhodesian exports, Smith claimed that many countries of the free world were quietly helping Rhodesia. On the fourth anniversary of the unilateral declaration of independence from Britain, Smith said that Rhodesia expects a 10% increase this year in its gross national product, "exceptional by any standard." But British Foreign Secretary Michael Stewart recently told the House of Commons that Rhodesia...