Word: forecasts
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What is the No. 1 foreign auto in the U.S.? Since 1975 the titleholder has been Japan's Toyota, but maybe not for much longer. After a dingdong sales battle, auto-industry experts forecast that by year's end, U.S. car buyers will have crowned another best-selling make. The new champion: Honda, a product from a company that little more than a decade ago was more famous for its motorcycles and motor scooters than for its automobiles. The spunky Japanese car manufacturer, which sold only 9,500 cars in the U.S. during its first season in 1971, expects...
...before cooling ever so slightly to 8% next year. The most remarkable comeback story in the region may prove to be the resurgence of the Philippines after the revolutionary triumph of President Corazon Aquino. Bernardo Villegas, senior vice president of the Center for Research and Communication in Manila, forecast that Philippine growth would jump from zero this year to 6% in 1987. That dramatic hike, he said, would be symbolic of Asians' "uncanny ability to roll with the punches...
...part of the Western Pacific economy over the next 18 months or so." He noted that Australia had been severely hurt by low prices for agricultural exports. But after expanding at a barely perceptible .5% this year, the Australian economy will rebound to a 3.8% clip in 1987, Drysdale forecast...
Among other things, Musich pointed to heartening signs of positive economic growth in two of Latin America's major economies: Argentina (with a foreign debt of about $51 billion) and Brazil (about $107 billion). He forecast that Argentina's economy would grow 4% this year and Brazil's 3.5%. At the same time, Musich noted, Latin American countries have successfully rescheduled payments on $100 billion of their $370 billion in foreign obligations. Last year the Latin debt total grew only 2%, meaning that for the first time in many years the debt actually declined about 2% in inflation- adjusted terms...
...There will be no major arrests and no political arrests. The effect will be zero. Within six months (Bolivian drug production) will be back to normal." That gloomy forecast about "Operation Blast Furnace" was offered last week by James Mills, 54, a veteran investigative reporter who has spent the past six years probing the shadowy world of international drug dealing and the seldom effective efforts of U.S. authorities to cope with it. Mills, author of the newly published The Underground Empire (Doubleday; 1,165 pages; $22.95), was in Washington to promote his book and appear before the House Foreign Affairs...