Word: steel
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Dates: during 1980-1989
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...Wheeling Steel...
Raised in the shadow of the steel mills, James Wright kept circling back to Martins Ferry in his imagination, starved for more. He resembled "a flower in a coal heap," in the words of his biographer, and suffered cruelly in the small, tough town where he was born. But Wright gave as good as he got. One poem about the rumored demise of a whorehouse in Wheeling depicts a throng of women swinging their purses as they pour into the river at dusk. What the heck is going on? the poet innocently wonders...
...results have been unexpectedly impressive. In July alone Brazil achieved a record monthly trade surplus of $1.4 billion. The Brazilians still rely on sales of such basic goods as orange juice and coffee, but the country has also become a prominent exporter of manufactured items, including steel and small aircraft...
Should an economic power as large as the U.S. get excited about the sale of a few thousand autos or tons of steel to a foreign country? Yes, indeed. For America in the 1980s, a modest export can represent a major industrial breakthrough. Cases in point: Chrysler Chairman Lee Iacocca announced in September that for the first time in nearly ten years, the automaker would begin selling U.S.-made autos in six West European countries -- and at prices lower than those of competitive models. Earlier this year the largest U.S. steelmaker, USX, sold 20,000 tons of hot-rolled bands...
...meet more and stronger competitors. Japan, the most potent of them all, is pushing into such American strongholds as biotechnology and supercomputers. Western Europe is coming up fast in aeronautics and office equipment. The newly industrialized countries are staking out their turf as low-cost producers of everything from steel to TV sets. And the U.S. may face a fresh competitive breeze from Canada as a result of the free-trade agreement the two countries reached...