Word: surpluses
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...there are limits to how far the Japanese will go to help America. Opinion surveys show that the majority of Japanese fear that a significant drop in the nation's trade surplus would be bad for their domestic economy. This concern gives some bureaucrats reason to delay reforms that would further open markets to American imports. During Bush's visit, Japanese auto companies promised to double their purchase of American auto parts to $19 billion by 1994. But they are reluctant to extend assistance to U.S. makers trying to sell American cars. "The Americans themselves have done little to penetrate...
...Buchanan: "Japan can't merely criticize the decline of the U.S. economy by saying, 'It serves you right.' If one takes into consideration the abnormal situation where Japan's excessive competition, low profit margins and long work hours served as a background to our earning a $40 billion trade surplus with the U.S. . . . we can say that Japan has a share in the responsibility for U.S. industrial decline...
...sorrowful swoon at the Sparkplug Summit in Tokyo. Never before has the nation's Globe-Trotter in Chief seemed so woefully ill prepared on foreign soil. Bush was unable to articulate a coherent rationale, other than pity, for why Japan should liberalize its economic system to reduce its trade surplus with the U.S. With a carping chorus of car executives and a patronizing lecture from Prime Minister Kiichi Miyazawa, the Bush visit became the free- trade version of Jerry Ford's WIN (for Whip Inflation Now) buttons...
...waters between the U.S. and Japan were further roiled by the latest trade statistics, which show a dramatic jump in Japan's overall trade surplus, up 84% to $78.23 billion for 1991. But while the numbers gave some Americans a ready excuse to decry Tokyo's trade practices, in fact Japan's surplus with the U.S. alone increased by a modest 1%, to $38.45 billion. Since 1987, the U.S.-Japanese trade gap has actually narrowed by nearly $14 billion...
...said the committee now expects a surplus of $132 million, down from $157 million...