Word: giffen
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Dates: during 1980-1989
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...were quick to take advantage of Carter's ban on American high-technology exports two years ago. A French company, for example, landed a contract to build a Soviet steel plant that was originally scheduled to be constructed in part by Armco Inc. of Middletown, Ohio. James H. Giffen, president of Armco's international subsidiary, thinks that Europe will be equally unsupportive of Reagan's sanctions. Says he: "We applaud President Reagan for his sympathy with the Polish people. But we have to wonder whether sanctions are an effective way of communicating concern. You have very little...