Word: import
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Dates: during 1980-1989
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...made him a millionaire several times over. The walk to riches began last November, when Hakuta's parents in Tokyo sent several of the widgets to his 3½-year-old son Kenzo, in Washington. Entrepreneur Hakuta, who has an M.B.A. from Harvard and runs a Washington-based import-export firm called Tradex, was immediately smitten with the toy and arranged to have it shipped to the U.S. He says: "I figured it might be something that could put humor into this recession." (Tradex, which has its headquarters in Hakuta's house, had previously been engaged...
...book is devoted to the negotiations with the IMF and to Manley's caustic assessment of the organization. He contends that IMF conditions for aid, which include an austerity program, impose unbearable hardships on the receiving country, cutting wages and increasing unemployment. At one critical point Manley had to import either food to feed the starving or raw materials to avert economic collapse. The IMF, he concludes, is totally unresponsive to the needs of the Third World...
...sales of Japanese-made cars were 1.8 million last year, and are not increasing, thanks to Tokyo's recent acceptance of a third year of "voluntary" import restrictions. Although Detroit is at last beginning to approach the Japanese on quality, evidence suggests that an extra twelve months will enable U.S. carmakers to become significantly more competitive on price. After ten years of mostly futile trying, Detroit continues to watch the small-car market slip away to the Japanese, who are now training their sights on the midsize and luxury end of the market as well...
...indulging in wishful thinking if they believe the political editorials on "Central America, the arms control debate, the Reagan budget, and national elections" are anything more than journalistic exercise prepping the author for a future at the Times or the Post. They are welcome, but don't attach such import to them...
...free market" has also proven inadequate to stimulate domestic energy production. Higher prices have admittedly moved the oil companies to step up their drilling, but exorbitant levels are needed to sustain even a modest amount of new exploration. The relatively small drop in imported oil prices since December, 1981 (slightly less than $6 per barrel) has caused the number of rigs in operation to drop by more than half. Once again, specific regulatory action--such as subsidies for oil exploration and development of alternate energy sources--would be more effective and less damaging than a hamhanded oil import...