Word: marketed
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Dates: during 1970-1979
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...decline of inflation has given a welcome boost to British exports, which during 1977 significantly increased their share of the world market. As exports have risen and the pound has steadied, foreign capital has once again begun to flow into Britain, converting a 1976 balance-of-payments deficit of $6.9 billion into a surplus of $10.3 billion in the first nine months of 1977 (including both current transactions and capital movements...
There is some question whether even these increases serve the industry's own best interests. The Administration is now engaged in setting "reference" (minimum) prices for imported steel, which has captured 20% of the American market in recent months. Any foreign metal sold below the reference prices would automatically be subject to a heavy tariff. The reference prices probably will be pegged to the cost of producing and transporting Japanese steel. The aim is to stop foreign "dumping" of steel (that is, selling of imported metal below cost) and to bring import prices close to the U.S. price level...
...During recent months the world has been awash with excess production of some 2 million bbl. per day, and Western oil stocks are currently 25% above pre-1973 embargo levels. Producers like Libya and Algeria, even while arguing for an official price hike, have been shaving their market prices by 40¢ or more per barrel...
...oversupply has been caused primarily by the arrival of oil on the market from new North Sea, Alaskan and Mexican wells. Those three areas are now producing an estimated 2 million bbl. per day?precisely the amount of the current surplus. Oil Minister Mani Said Utaiba of the United Arab Emirates admitted at the conference: "We can't talk about increasing prices because there are too many barrels of oil every day in the market. If we increase the price, we won't be able to sell...
...glory days of Empire, English art buyers plundered the riches of Italy, France and Greece. But since World War II, the down-at-heel British lion has been unable to compete with Americans, Japanese, and assorted European collectors in the all too open international art market. As a result they have begun to concentrate on simply hanging onto whatever treasures they already have. They rallied round to raise $4 million, thus saving a Titian. But another masterpiece ?Velásquez's portrait of his assistant Juan de Pareja, for example, was snatched from them in 1970 by a $5.5 million...