Word: exports
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Dates: during 1960-1969
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Less than 13% of its land is arable, only about 66,000 of its 2,500,000 citizens have paying jobs and the average income is only $60 a year. The country's only export earners are bananas, hides and scrawny cattle fed on thorn scrub. The only "pipelines" for drinking water are the donkeys that carry it on their backs to the cities from nearby water holes. The country's first five-year economic plan was so modest that Planning Ministry Director Ahmed Botan described it as "a collection of wishes dependent wholly on foreign...
...little hope of it. American corporations have invested $55 million dollars in Haiti, but their effect on the economy has been negligible. Only a flour mill, which imports its wheat from the States, sells in the Haitian markets. The other products--coffee, bauxite, and sugar--are all for export...
Siemens must export to survive; the domestic market simply will not support the company's huge research expenses, which last year amounted to $140 million. Its communications research center in Munich has 4,330 scientists; at the Erlangen lab near Nürnberg, 500 nuclear technicians made possible the Argentine generator sale. While most European firms depend upon American processes and patents, Siemens has sold $50 million more patent rights since the war than it has bought. If asked about the so-called technology gap between Europe and the U.S., Erwin Hachmann, 55, a member of Siemens' three...
Anil Nayar is busy running a sandal and lobster-tail export business in India, but as far as Harvard's squash coach Jack Barnaby is concerned, Nayar himself is India's best export...
...core of the problem is a disastrous balance of trade: the poor countries are getting lower and lower prices for the raw materials they sell to the industrial powers, while the developed nations are steadily increasing the prices of the manufactured goods they export...