Word: grossness
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Dates: during 1980-1989
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Some readers may have been surprised at the magnitude of the figures used for the countries in your debt watch list chart. Consequently, some explanation of the numbers might be useful. The dollars of total debt at the end of 1982 are gross external debt, including short-term debt but excluding assets abroad. Sometimes short-term debt is not taken into account by analysts, but recent experience has shown that such credit is at least as troublesome in refinancing situations as longer-term credit. Similarly, foreign assets may not always be immediately available...
...wants Japan to take significant steps in opening its borders to more American-made goods. That will help reduce the U.S.'s $17.5 billion unfavorable trade balance with Japan. The Administration also wants Tokyo to raise its defense spending, which currently accounts for less than 1% of the gross national product (vs. 6.3% in the U.S.). In the case of China, the differences concern trade, military and geopolitical matters and, notably, a feeling by Peking that the U.S. has not fulfilled some of its earlier promises to reduce its support for the Chinese Nationalist government on Taiwan...
...must be steadily reduced as a proportion of national income. Now some of his subordinates are openly declaring that goal to be not only unattainable but undesirable. Treasury Secretary Donald Regan went so far last week as to insist that tax collections must increase from the current 18% of gross national product to 20% by 1986 if deficits are ever to be tamed...
...Washington on both the commercial and military fronts. Officials will explain to Nakasone that as U.S. unemployment continues to rise, so will pressure for further measures designed to protect the domestic market from Japanese imports. The Administration also feels that Japan, which spends less than 1% of its gross national product on defense, vs. 6.3% for the U.S., is not shouldering a fair share of the military burden in the Pacific. So far, Nakasone's efforts to boost military spending have been disappointing to Washington. In his first draft budget, presented last December, Nakasone lowered the planned purchase...
...death last August, a Los Angeles lawyer-agent, Roger Richman, won the right to represent the Monroe estate as the sole licensing agent for Monroebilia. Richman is currently tracking down marketers of bric-a-brac and is now reportedly charging those new to the Monroe business 6% of gross in return for the right to use an "official" M.M. logo. He will not reveal his agent's fee, but notes that "there is no regulation for those dearly departed." (Some manufacturers have separate agreements with 20th Century-Fox, which has claimed franchise rights to clothing used in movies that...