Word: important
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Dates: during 1980-1989
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This unsettling phenomenon is by no means unique to the auto industry. It is occurring more and more as the U.S. persuades foreign countries to accept import limits on textiles, machine tools, sugar, meat and carbon steel, among other items. As pressure for more trade legislation builds this year in Congress, a growing number of economists and legislators have concluded that there must be a better way to run a quota system...
...idea that shows particular promise is the concept of auctioned quotas. Rather than just giving away the import allowances, proponents ask, why not sell off the quotas to the highest bidders? Under the current system the U.S. leaves it to foreign governments to decide how quotas should be apportioned among their companies, which pay no money for the exporting privileges. But under an auction plan, the U.S.-based companies that import the products would bid directly to the Federal Government for a share of the quota, bringing a whole new source of income to the U.S. Treasury...
Heineken, the most popular import, went for a more casual approach with: "Come to think of it, I'll have a Heineken." Nonchalance notwithstanding, this ad wasn't very visually exciting, featuring a drop of water climbing up the side of a bottle. Don't the Heineken people realize that you can put poodle urine in a bottle, chill it, spray it with water, and watch a little droplet of H2O do exactly the same thing? I finally realized that European countries, who in general make fun of American beer, don't always export their best brew...
Volcker argued that the dollar has already fallen far enough. While its decline promises to help narrow the trade deficit, a continued plunge could send import prices surging and spark increased inflation. That is one threat the Fed chairman cannot afford to underestimate...
...FIRST step I made was to put my best foot forward, ideologically-speaking. I hitched a ride with a quasi-legal import-export merchant to Nicaragua and then took an arms freighter to Cuba where I was able to register with the Comintern and buy some identification papers. I was now Rutger Gorbachev, long lost grand-nephew, twice removed, from the Soviet premier. I figured the pull might be useful later...