Word: know-how
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...partner in a five-year, $27 billion government-subsidized mega-project to rebuild the country's cranky telephone system virtually from scratch. As one of the main contractors on the project, Italtel will supply most of the basic equipment, while AT&T will provide the know-how, software and supercomputers that will make Italian phone lines hum efficiently. The job may be worth several billion dollars to Ma Bell...
What makes the failure all the more disturbing is that it was unnecessary. Engineers have the know-how to build reactors that are demonstrably safer than those now in operation. Moreover, that basic technology has been available for more than 20 years. It was largely ignored in favor of a technology -- the water-cooled reactor -- that had already been proved in nuclear submarines. But water-cooled reactors are particularly susceptible to the rapid loss of coolant, which led to the accidents at both Chernobyl and Three Mile Island...
American companies have long viewed doing business with the Soviet Union as a dubious proposition, given the stormy politics of the superpower relationship. But under perestroika, General Secretary Mikhail Gorbachev's campaign to revitalize his country's economy, the Soviets are trying to attract American know-how to help step up the tempo of development. Encouraged by their overtures, dozens of U.S. companies -- among them Honeywell, Occidental Petroleum and Archer Daniels Midland -- are forming joint ventures in the Soviet Union...
...Baker rides out these delicate days with a shoeshine and a smile, convinced that the West, and especially the U.S., has the know-how to produce an era of unprecedented prosperity with peace. "It is not apocalypse now," he insists. If the deficits shrink more and there is no recession ("I see nothing out there to indicate that the economy is not going to keep growing"), then expansion could diminish that specter of a $2.4 trillion debt making hostages of young Americans. Banishing fear is the heart of politics...
Though it is essential for the U.S. to cultivate domestic energy sources and know-how, current spending is excessive. The research-and-developme nt budgets for nuclear fission and fossil fuels could be cut by two-thirds. In addition, the U.S. should reduce funding for rural electrification and remove subsidies on the sale of federally generated power...