Word: surplus
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Mulroney is counting on the pact to give a boost to a country that at the moment has a modest surplus in world trade. From 1980 to 1984, Canada's exports surged from $67.7 billion to $90.3 billion, fueled largely by sales to the U.S. of such products as softwood lumber, newsprint, autos and trucks. By 1986, however, exports had slipped to $89.7 billion, partly as a result of a falloff in Canada's revenues from oil sales. Canada had an $11 billion trade surplus with the U.S. last year, but a $5 billion deficit with the rest...
...long been "Export or Die" ? Does this mean that Japan, the world's most fearsome economic competitor, is ready to roll down its sleeves and relax while its rivals carve up its slice of the global market? Not exactly. But Japan, under pressure to reduce a trade surplus that reached $83 billion last year, is indeed trying to soothe foreign critics by curbing exports and opening its markets to imported goods...
...trade turnaround was a long time coming, but there are finally some signs of change. Between 1982 and 1986, the value of Japanese exports jumped from $138 billion to $211 billion, partly because of the yen's 50% rise against the dollar. In 1986 alone, Japan's trade surplus rose 79% from the previous year. But last spring it began to come down. By July the surplus was nearly 15% lower than the same month the year before. Meanwhile imports, spurred by growing domestic demand for ever cheaper foreign goods, were up 30% in August, compared with that month...
...generation of supercomputers that will allow users to give orders in English or Japanese rather than in a computer language. Such systems could be used as office secretaries, teachers' aides, automatic nursing systems or translators. Another field in which the Japanese are coming on strong is finance. Their trade surplus, combined with a high personal-savings rate, has provided the Japanese with a huge pool of cash to spread around the world. That has given enormous muscle to Japan's financial institutions. Four of the world's top securities firms and seven of the ten largest commercial banks...
...contrast to Korea's large corporations, Taiwan's companies, which churn out products as diverse as calculators and vaccines, tend to be small. But they make big waves in world trade. With the U.S. alone, Taiwan piled up a $16 billion surplus last year. That has stirred anger in Washington, which has forced Taiwan to raise the value of its currency, and is threatening protectionist retaliation because the country keeps its domestic market closed to U.S. imports...