Word: foreign
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Dates: during 1950-1959
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...much longer the U.S. can afford the contrast between the $3.03 average U.S. steel wage and, according to latest available figures, the 89? average for Luxembourg, the 78? average for Belgium, the 68? average for West Germany, or the 41? for Japan. One obvious but unlikely solution is for foreign countries to raise wages faster, share more of the benefits of rising productivity with their workers, as the U.S. does...
Besides wages, there are other explanations for the loss of the U.S. competitive edge. Some U.S. exporters fail to study the foreign market, use it only as a dumping ground for surplus that they cannot sell to the U.S. For example, Germany dominates the radio-set market in Ecuador because her makers produce a compact, high-quality, inexpensive multiple-short-wave set; it sells well in a country where much of the listening is to foreign stations. Comparably priced U.S.-made sets bring in only nearby stations, have only a limited market. U.S. businessmen find it hard to obtain Government...
...nation gain the competitive edge on foreign competition? Only a small number of U.S. businessmen really favor a return to Hawley-Smoot protectionism. (But many are bitterly resentful of continued foreign economic aid, which they regard as expenditure of hard-earned U.S. tax dollars to build up tough foreign competition for taxpaying U.S. businesses.) What businessmen can do, say U.S. Assistant Secretary of Commerce Henry Kearns and fellow officials, is cut the lead time on research and development, pull off the shelf better products originally planned for future exploitation, sharpen up their selling tactics. What U.S. labor must do, says...
...where will the $600 million bankroll come from? Ghana, which enjoys a trade surplus as the world's biggest producer of cocoa, can ante up $70 million. This month it will send a team of ministers to Washington to dicker with the World Bank and U.S. foreign-aiders, who regard Ghana as a first-rate investment risk. Says Aluminium Ltd. of Canada, which has rights to Ghana's major bauxite reserves and sees the Volta plan as an eventual certainty: "We would be interested in forming a consortium with U.S. firms to develop the project...
...Laborite Harold Wilson rose in the House of Commons to ask whether the trend was not "cause for alarm or action." Calmly replied Chancellor of the Exchequer Derick Heathcoat Amory: "I should remind you that the amount of net investment we have made abroad enormously exceeds any net foreign investment made in this country over recent years." Wrote the News Chronicle's Michael Gassman: "There should be no scare that the Yanks are coming. They are already here...