Word: sawano
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Dates: during 1970-1979
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Fear of new U.S. barriers against imports has prompted some foreigners to buy their own share of American business. "Sooner or later we would have run into protectionist action," says Masao Sawano, general affairs director of Japan's Toyo Bearing Manufacturing Co. Ltd., which recently opened a $1,000,000 ball-bearing plant in Chicago. But the major attraction is the size and vigorous expansion of the U.S. economy. And now that the dollar has been devalued twice since late 1971, foreigners can build new U.S. factories more cheaply than before...