Word: surpluses
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Beyond causing direct losses in trade and commerce, the gulf crisis has sparked a general reluctance to invest in a region that has been an important trading partner for industrialized economies, contributing $3.3 billion to Germany's $81 billion trade surplus for 1989. For the moment, most capital projects have been delayed. Saudi Arabia, for instance, planned to construct 400 new industrial plants at a total cost of $40 billion in the next five years. Until the crisis is resolved, it is safe to assume that those projects will remain where they are today: in limbo...
Then as his first term neared an end and the state's surplus reached $49 million, Kerrey withdrew from politics as suddenly as he had entered. "I had accomplished what I wanted to. It was time to move on," he says simply. Scott Matter, whose party regained the state house thanks to Kerrey's decision not to run, thinks his sudden disinterest is typical and unsettling. "He's got a short attention span," says Matter. "He's opportunistic. He could get bored with the Senate too." Kerrey concedes the point. "I could," he admits. Observes pollster Hickman: "He could walk...
Everything about the Exxon Valdez oil spill was expensive, but last week it produced a few bargains. At an auction in Anchorage to sell off surplus equipment that Exxon used in cleanup operations, buyers bid on acres of items ranging from animal shampoo to mobile homes to microwave ovens. Four 18-ft. boats sold for $3,750. Other items were less than a steal: four used TV sets sold for a total of $2,000. Ritchie Bros. Auctioneers International, a Vancouver, B.C., firm that bought the surplus gear from Exxon, collected $3.8 million on the first day of the four...
...their own policy of locking Germany firmly into the European Community." It is not admitted publicly in Paris, but French officials shudder at the numbers: unified Germany's gross national product is $1.1 trillion, France's $762 billion. Almost 70% -- or $62 billion -- of the Federal Republic's trade surplus of $90 billion is with members of the E.C., an imbalance that is likely to increase...
With the fourth largest economy in the world, Germany is already the world's largest exporter of manufactured goods, ahead of even Japan. It simultaneously boasts a rock-hard currency and the largest trade surplus on the planet. Add to that 17 million people, the world's 11th largest economy and by far the most productive industry in the Eastern Bloc and you get a formidable combination...