Word: grossness
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Dates: during 1980-1989
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...country to the point where it would become "the Switzerland of Asia." Today, Japan is the second most powerful economy in the free world. Its trillion-dollar-a-year industrial machine accounts for 10% of the world's output. By 1990, the Japanese may achieve a per capita gross national product that surpasses that of the U.S. As a 19th century French tourist said of another island people, the English: "Mon Dieu, comme ils travaillent...
Japan is not unusually dependent on exports. The country ships out only 13% of its gross national product, while Britain exports 20.5%, West Germany 26.7% and Canada 29%. Among the major non-Communist industrial countries, only the U.S. exports less of its G.N.P.: 6.9%. For most Japanese companies, the biggest sales and greatest competitive challenges come in the domestic marketplace. Hitachi, Japan's largest manufacturer of electronic goods, exports only 27% of its production...
...wake of the Iranian revolution, the Japanese had learned to deal with oil shortages. They not only survived that crisis, they prospered. Industrial production was up 10% during the second half of 1979, and oil consumption was down 2.8%. In the first two quarters of 1980, the gross national product went...
...weeks of torrential rains, were under water. The floods have destroyed at least 1 million tons of stored grain, drowned herds of cattle, brought business to a standstill, left 340,000 people homeless and killed more than 100 in an area that generates roughly 18% of Brazil's gross national product. Said one pilot after a rescue mission: "The region is one immense lake with little islands where there used to be cities." With damages so far estimated at $1.5 billion, the military government of President João Figueiredo set up a calamity fund for flood victims...
Brazil has a long way to go before recovering its economic health. Buffeted by the global recession, the country has been suffering for two years. Since 1980, the per capita gross national product has declined by 4.4%. In the first quarter of this year, retail sales dropped by 13.3% in Rio de Janeiro and 10.3% in São Paulo. Factories that produce construction equipment and other capital goods are operating at only 20% of capacity, and 8.5% of the country's workers have been laid off. Of the entire working-age population, 40% is either unemployed or working...