Word: glut
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Dates: during 1960-1969
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...glut has dropped most European steel prices toward their lowest level in ten years, yet the cost of production keeps rising. West German plants are forced by Bonn to use uneconomical coal from the Ruhr instead of cheaper U.S. imports; the difference causes a pricing disadvantage of up to $5 a ton in competition with incoming Dutch and Italian steel. Steel imports, as one result, have climbed from 15% of German sales to 25% in the past five years. French steelmakers must import 25% of their coke, pay a 15% to 20% duty...
Hungary has been unable to take full advantage of the $125 million trade treaty it signed with West Germany in 1963 because many of the goods it would like to sell-bicycles, sewing machines, textiles-proved so inferior that the Germans would not buy them. Hungary has a glut of poor-quality textiles, including cheap shirts labeled in English "The Very Honorable, Foreign Made," also produces cheap shoes called Baby Doll to compete with those from Czechoslovakia's Communist-owned Bata shoe factory. Unable to sell either item to the West, Hungarian companies were forced to unload them...
...denied citizenship and have been increasingly limited in their choice of jobs by a government anxious to protect the 200,000 native (and minority) Kuwaitis. Some immigrants have sent their families back home, moved from houses into apartments and begun saving rather than spending their money. Result: a glut of empty houses, a crimp in the real estate market, and a further reduction in consumer spending...
...this glut of activities isn't sufficient, those sport fans seeking truly mindless entertainment can attend the opening of Raynham Park, which kicks off the 1965 New England dog racing season...
...global company, the policy problems can be considerable. Despite a continuing oil glut, Jersey is energetically prospecting for more oil against the day a decade from now when world demand approaches supply. Haider must decide on commitments in the North Sea, where the search looks good, and in Australia, where so far it has been poor. He faces major decisions on marketing policy for such areas as Japan and Europe, where demand for oil-as well as competition -is skyrocketing with industrialization...