Word: short-term
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...have been slumping, Japanese-made Datsuns and Toyotas, Mazdas and Hondas have been streaming through U.S. ports at the rate of some 6,000 vehicles a day. The import flood has given Japan 23% of the entire U.S. car market. General Motors Chairman Roger Smith last week urged a "short-term voluntary" cutback in imports and warned that the alternative was a trade war with Japan. In Washington and Tokyo the Reagan Administration and the government of Prime Minister Zenko Suzuki worked determinedly to settle the most festering trade issue the two countries have faced since World...
Money market funds, which are usually run by large investment firms, put their deposits in short-term (less than 60 days) financial instruments like Treasury bills, certificates of deposit and commercial paper. These usually safe, high-yielding investments are sold only in denominations of $10,000 and more and are out of the reach of the ordinary saver. The usual minimum deposit for money market funds, on the other hand, is $1,000. Investors can usually write checks against their deposits, much like a checking account, although many funds require a minimum withdrawal...
...buoyant, Detroit's have been sinking badly. The American auto industry last year lost a staggering $4.2 billion. As a measure of their desperation, the Big Three U.S. automakers now offer buyers cash rebates of $500 to nearly $1,800 a car. That move has resulted in some short-term gains; sales during the last ten days of February leaped 21%. But industry observers are fearful that the rebates are artificially stimulating sales, which will come crashing down once the incentives are ended...
Meanwhile, a number of countries will probably try to help with short-term roll over deals and other bilateral measures. The U.S., for example, immediately announced the deferment of $88 million in Polish debt payments that would have been due over the next four months. West German Economics Minister Otto Lambsdorff assured Polish Deputy Premier Henryk Kisiel that Bonn would be willing to cooperate in comparable ways...
...short-term possibilities of the new gene-splicing companies may have been overblown. In the field of medicine, the new chemical creations face lengthy testing by the U.S. Food and Drug Administration before they can be licensed. The application to agriculture will require a great deal of capital, to say nothing of enormous technological advances, before any plants and products can be turned out in sufficient quantities to transform the world. Says James Watson, who with Francis Crick won a Nobel Prize for unraveling the double-helix structure of DNA and ultimately making recombinant DNA possible...