Word: surpluses
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...said the reforms were expected to have a gradual but lasting impact on Japan's trade surplus with the U.S., which totaled $49 billion last year...
...taking flying lessons and soloing at 16. He studied mechanical engineering at Yale, enrolled in the Navy during World War II and took fighter-pilot training at the Pensacola Naval Air Station. Returning to Yale, he switched his major to physics and with a few friends bought an Army surplus glider. Soon he was totally absorbed in soaring, which he continued while earning his master's & degree in physics and a doctorate in aeronautics at California Institute of Technology...
Besides its real interest payments, the Government is also paying a fictional $16 billion of interest into the fictional Social Security trust fund, from which it is "borrowing" the annual surplus -- $66 billion this year. Without use of that surplus, the deficit would be well over $200 billion, and this year's interest payments would be slightly under $200 billion...
...martial metaphors and atmosphere of antagonism are perhaps inevitable in any situation in which interest is set against interest. But they are not appropriate to the present state of transatlantic trade, which is one of near equilibrium moving toward a modest U.S. export surplus. As recently as 1987, in the aftermath of the overvalued dollar, the U.S. ran a large deficit in trade with the Community, but once the dollar came back to earth, that deficit dwindled, just as the experts said it would. Today the E.C. is no longer a factor contributing to the U.S. trade deficit...
Japan now stands at the beginning of a period in which it must re-evaluate its financial position. The country is still flush with cash, having posted a current-account surplus of $69 billion last year, but that is down from $87 billion two years earlier. (One reason is the surge in Japanese travel, which boosted the country's deficit in tourism spending from $3.7 billion in 1985 to nearly $20 billion last year.) Japanese moneymen are not likely to start selling off their investments all over the world, since those were made with long-term goals in mind...