Word: importent
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...lost money in South Africa since 1982, and IBM, while profitable, has been losing market share to Japanese computer makers. Last week the U.S. consulate in Johannesburg released a Commerce Department economic report prepared for American investors labeling South Africa as a "chronic debtor" and an "import-starved" nation that is "closer to becoming just another African state." With the apartheid issue nowhere near a solution, more U.S. corporate executives came to view South Africa's social and economic future as uncertain at best. Says Lawrence Fox, vice president of the Washington-based National Association of Manufacturers: "Developments in South...
Japan's production-oriented economy regularly out-performs Western economies which place more importance on consumption than investment. By exporting more than they import, the Japanese, experts said, are financing the growing U.S. national debt...
...sanctions package bans new American investments in South Africa and prohibits the import of such South African commodities as steel, iron, farm products, uranium and coal -- worth a total of $713 million in 1985. It suspends South African Airways' landing privileges in the U.S. The congressional package will reinforce the effect of somewhat weaker sanctions adopted last month by the twelve members of the European Community, which do not contain any provisions affecting coal imports or airline landing rights...
...which had been passed in August by the Senate (84 to 14) and then later by the House of Representatives (308 to 77), the President sent a letter to House Speaker Tip O'Neill offering to impose some measures in an Executive Order. The proposal included bans on the import of iron and steel but omitted coal and other important items, like the cancellation of airport landing rights. Congress was in no mood to settle for half a loaf. Reagan's offer, said a Lugar aide, was "a day late and a dollar short...
...that finally doomed Administration lobbying efforts came from South Africa. In telephone conversations with two farm-state G.O.P. Senators, Iowa's Charles Grassley and Nebraska's Edward Zorinsky, Pik Botha warned that imposition of sanctions would result in retaliatory measures from Pretoria. South Africa would not only refuse to import any more American wheat (it bought 256,000 tons in the year ending last June) but also block grain deliveries to neighboring black states that depend on South Africa for commercial transport. Both Senators had been buttonholed near the Senate cloakroom by North Carolina Republican Jesse Helms, a friend...