Word: importants
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Until World War II, the burgeoning U.S. population still needed to import more food products than it exported, but starting in the mid-1940s, American agriculture was revolutionized by better technology, better seeds, and better use of chemical fertilizers and pesticides. Farms grew larger and the number of people on them dwindled?to less than 5% of today's population, compared with 23% in 1940. One farmer in the U.S. now feeds 75 people. By comparison, in the Soviet Union, which has less rainfall, less arable land, a shorter growing season and a far less efficient agricultural system, one farmer...
...educated who want amenities and the less-educated who would also like amenities but who want first of all jobs and heat). I would be very happy if our environmentalists and consumer advocates, such as Ralph Nader, called for a removal of the tariff from Japanese automobiles, for the import of Toyotas by others than the well-to-do the import reduce our consumption of vanishing fossil fuels. Even more important is the rebuilding of our railroads rather than building more bombers when we already have ample means of delivery of nuclear weapons through our tripartite system...
...import surge could touch off renewed squabbling with Japan over its trade practices. While as yet no one in Detroit is flatly accusing Japan's automakers of "dumping"-that is, exporting cars at prices that are lower than in the home market-U.S. automen grumble that Japanese people pay more for their cars than foreign buyers do. Reason: a 20% value-added tax (VAT) is levied on car purchases in Japan but not on those cars shipped to the U.S. In effect, Detroit automen say, Japanese motorists are subsidizing their auto industry's exports...
...made Taiwan the U.S.'s eighth largest trading partner. By contrast, two-way trade between the People's Republic of China and the U.S. this year will amount to $1.8 billion. Washington has quietly but systematically encouraged the bilateral trade boom. Among major recent deals: the Export-Import Bank, which sent a delegation to the island this fall, extended $500 million worth of loans during 1979. Since January, American banks have also contributed to a $200 million loan to the Taiwan Power Co. General Electric has joined with Taiwan companies on a $30 million turbine-generators project. Said...
...mean? On the most obvious level, it means what everyone knows: that money is losing value. But it also means that we are in the grip of a wave similar to what, in 17th century Holland, was known as the Tulip Mania. The tulip was then a comparatively new import from the Near East, and mutant specimens, with irregular stripes, were prized as rarities-so prized that men would mortgage their villas and their fields. The tulips had little intrinsic value. Their worth as commodities was a function of pure, irrational desire, and their economic fate proved that nothing...