Word: protectionists
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...stability. Economically, Aquino has fought back with, among other things, an adjustment program negotiated last October with the International Monetary Fund. The IMF promised to lend the Philippines roughly $330 million while insisting on limitations to monetary growth and fiscal restraint along with basic changes in the country's protectionist economy...
...free-trade agreement would provide a welcome counterpoint to the protectionist feeling that is piling up rapidly in Washington over the doleful American trade deficit, even though much of that ire is focused on the No. 2 U.S. trading partner, Japan. Without a pact, Ottawa fears, the U.S. Congress will indiscriminately freeze more Canadian goods out of U.S. markets. In the past year, Canada has been bruised in fights over exports to the U.S. of softwood lumber used in housing and other timber products; it is now under pressure to avoid enlarging its nearly 3% share of the $32 billion...
Avoiding that kind of protectionist debacle will take considerable American self-discipline. Among other things, policymakers must speedily reduce the federal budget deficit, which has fueled so much excess U.S. consumption. But there will also have to be considerable changes in U.S. corporate and educational culture. American businessmen, who have traditionally paid most of their attention to domestic markets, must become more aggressive in going after foreign sales. American managers also need to take a leaf out of Japanese manuals about greater worker involvement in product quality control. The U.S. education system needs vast improvement before it can produce blue...
Nakasone's efforts at liberalization, though, have had little effect on U.S.-Japanese trade figures. Indeed, most economists estimate that if all protectionist barriers in Japan were removed at a stroke, Japanese imports would increase by only $8 billion to $15 billion...
...expressed the Administration's "profound disapproval" of Japanese trading practices in the sensitive semiconductor field. On the other, they were an integral part of the Administration's strategy to address the country's ghastly trade deficit. The semiconductor measures were also intended, ironically enough, to help block a rising protectionist tide in the U.S. Congress, but they could just as easily have the opposite effect...