Word: japanization
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Dates: during 1960-1969
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...Only Japan's builders, who lead the world in construction of the giant tankers, are making money on them. Though the Japanese compete fiercely with each other for orders, they have been sharing technological ideas since the Imperial Navy ordered them to do so before World War II. They have produced such innovations as computer-controlled cutting torches, self-propelled welders and devices that can flip over 80-ton subassemblies to make welding easier. These have helped reduce building costs from $91 a ton for a 100,000-d.w.t. tanker to $68 for a 300,000-tonner. Even...
...yards have so far built nothing greater than 109,000 d.w.t. but Bethlehem Steel and Newport News Shipbuilding & Dry Dock are gearing up to turn out tankers in the 200,000-d.w.t. class. Even those will seem small next to the foreign-built ships of the future. Japan's Nippon Kokan next month will open a dock that can accommodate an 800,000-tonner, and Belfast's Harland & Wolff is constructing a new facility that should be able to handle a million-d.w.t. vessel...
...Japan's irrepressible economy makes its power felt around the world, the U.S. is both cooperating and colliding with it. U.S. industrialists who suffer the sting of foreign competition-in textiles, steel, electronics-view Japan as the chief villain. On the other hand, many businessmen look yearningly toward Japan as an enormous market for American goods. Last week two significant developments took place that will strain relations in one area of business and possibly smooth them in another...
Textiles. Commerce Secretary Maurice Stans reported on his mission to goad Asian trading partners, chiefly Japan, into restraining their textile exports. The outcome: no deal. Japan sends nearly $400 million worth of textiles yearly to the U.S., and this has sorely hurt whole towns in the South. They live off their textile mills, which employ many unskilled Negroes...
...Japan does not voluntarily hold down its shipments soon, the U.S. will move toward mandatory import controls. Protectionist sentiment is rising in Congress. Earlier this month, Wilbur Mills introduced a bill calling for textile import quotas, and it will get massive support. If the bill passes, it could set off a round of moves and countermoves restricting free trade...