Word: glutting
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...hopes that the new accord would settle the conflict were quickly dashed. When the prices of Japanese chips sold in the U.S. began to climb, U.S. chip buyers objected, and some began threatening to take their manufacturing operations overseas. Meanwhile, slower sales abroad created a chip glut in Japan, driving Far East prices as much as 50% below the agreed-upon "fair market" values. Result: a boom in illicit roundabout sales. Large numbers of low-priced Japanese chips turned up in Hong Kong, South Korea and Taiwan, and middlemen, known as the suitcase brigade, secretly ferried them...
...generations, membership in a college faculty has implied the enviable prospect of lifetime job security through the granting of tenure. Not anymore. Since the late 1970s, academe has suffered a Ph.D. glut as baby-boom enrollments leveled off while universities continued to churn out fledgling professors, particularly in the humanities, faster than the shrinking job market could absorb them...
...Minister Sheik Ahmed Zaki Yamani raised crude output from about 2 million bbls. a day to 4 million bbls. with the aim of forcing rival oil producers like Britain to cut back to make room for the Saudis. But when competitors refused to budge, the world's oil glut rapidly increased and discounting became rampant. "The price war is here," said Mani Said al-Oteiba, Oil Minister of the United Arab Emirates, in February...
Humbled too are Japan's shipbuilders, who are suffering from a worldwide glut of shipping capacity. For the six months ending September, four of the six major Japanese manufacturers lost money for the first time since 1979. Shipbuilder Ishikawajima-Harima Heavy Industries plans to reduce its work force from 24,000 to 17,000 by year's end. One 90-year-old shipbuilder, Hakodate Dock, was once the largest employer in the city of Hakodate. Now the company has no orders at all for next year and beyond. In shipbuilding, as in steel, the most forceful challenge comes from South...
...building up its own American manufacturing capacity, largely in so-called transplant factories that depend heavily on imported Japanese parts. Meanwhile, American auto companies have entered into new and exotic relationships with foreign producers, both in the U.S. and abroad, that can only further add to the potential auto glut. By 1990 the excess production capacity in the U.S. could reach 1 million to 2 million cars annually, or roughly 10% to 20% of projected domestic sales...