Word: importance
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Dates: during 1970-1979
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...Robert Strauss carried the strident ring of an ultimatum. Signed by Wilhelm Haferkamp, the German vice president of the European Community, and approved in advance by the Foreign Ministers of the nine member nations, it brusquely warned Washington that the Nine would retaliate if the U.S. began collecting extra import duties on a wide variety of their products. It also intimated that the Community would walk out of the three-year-old Tokyo Round trade talks, thus scuttling any possibility for their successful conclusion. What could follow, Haferkamp wrote, would be "a trade war of considerable dimensions...
Peterson, an Assistant Secretary of Labor during the Kennedy years, was the first person to fill the White House consumer post after Lyndon Johnson created it in 1964. Reappointed by Carter, and enjoying somewhat greater clout in the Oval Office, she helped persuade the President to raise beef import quotas in June as a way to drive down meat prices, and she is lobbying for legislation to keep coffee and sugar prices low. Of her new publication she says: "It's not pabulum. It's no WIN button...
...numbers of new inventions, its chief economic rivals are expanding their research efforts at much faster rates. One consequence is becoming dramatically clear this year: because the U.S. no longer commands such a high share of the world's high-technology market, it no longer can offset its large imports of low-technology items such as shoes and clothing. As a result, in 1978 the country will import substantially more manufactured goods than it will export. The deficit for the first half of 1978 was $14.9 billion, which will do more damage to the trade balance this year than anything...
...East, partly because West Coast builders have been snapping up supplies. As a result, many projects are stalled, and cement prices are climbing. Some big West Coast suppliers are going as far as Japan and Korea for raw materials. California's big Kaiser Cement and Gypsum Co. plans to import 10% of the materials it needs from Japan this year...
...progress" were often disastrous. Hundreds of thousands of peasants fled their native villages for the lure of more profitable work in the cities, leaving formerly cultivated farm land to revert to desert. At the same time, Iran, which for ages had been all but self-sufficient, suddenly had to import more than 60% of its food products. Along with imports of food came more than 1 million foreign workers: Pakistani and Filipino truck drivers, Indian engineers, Korean and Japanese workers - to say nothing of the more than 40,000 American military and civilian personnel whose advice and training were needed...