Word: surpluses
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...during the country's economic advance. Salinas began his six-year term in & office in 1988 by selling off hundreds of bloated state-owned companies and deregulating private industry; he tightened credit to bring inflation down from 50% annually to 8% and cut public spending to produce a budget surplus. Though he also created a $2.5 billion-a-year public works program called Solidarity to cushion the effects of fiscal stringency, the poorest Mexicans' share of the national income declined in real terms from...
...Beijing Friday night with an unequivocal message: China must improve its human-rights record or lose the low-tariff benefits of most-favored-nation trading status. President Bill Clinton had vowed that he would not renew MFN -- a boon that allowed China to roll up a $23 billion trade surplus with the U.S. last year -- if Beijing did not demonstrate tangible improvement by June, when the decision on extending MFN comes due. Nor did roundups like those of last week help China's fading prospects for support in Congress. Beijing's bosses obviously place a higher priority on maintaining...
...visit to Tokyo, Secretary of State Warren Christopher warned the Japanese that the U.S. expects them to do more to open up their markets and reduce their trade surplus with the U.S. By the weekend they had done something: an agreement was announced that will allow Motorola broader access to Japan's cellular-telephone market. Christopher's next stop was China, where talks on renewing that country's most-favored-nation trading status got off to a rocky start. China's recent crackdown on dissidents, Christopher said, "certainly bodes ill" for chances of renewal. Premier Li Peng told Christopher, "China...
President Clinton revived a tough provision of U.S. trade law in an attempt to get Japan to trim its $59 billion trade surplus. The measure, the so-called Super 301, creates a "hit list" of countries deemed to be unfair traders and threatens punitive tariffs of up to 100%. Said Japanese Prime Minister Morihiro Hosokawa: "We would like to deal with this matter calmly...
...fact, a number of seniors called for this story refused comment due to lack of time and surplus of stress...