Word: surpluses
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...BILLION Estimated trade surplus China could generate with the U.S. in 2005, according to Chinese state press...
...China, with its surging trade surplus and huge holdings of dollar reserves, CNOOC's action is called the "go out" strategy: for the past two years, the Beijing government has been urging Chinese firms to expand their presence in overseas markets. Some have begun to respond. Late last year computer giant Lenovo bought the high-profile but money-losing personal-computer business from IBM for $1.75 billion. Prior to that, TCL, a consumer-electronics maker, bought the RCA TV business from French giant Thomson. And all the while, Chinese energy companies have been making deals with governments and private companies...
Despite a declining dollar on world currency markets, which makes foreign products more expensive in the U.S., Western Europe's trade surplus is expected to rise from last year's $25 billion to $40 billion. If, as expected, the European export boom eventually cools down, the gap can easily be filled at home by rising consumer demand and increased industrial investments. Even the painful level of unemployment will probably decline slightly in the year ahead, partly as a result of an increase in small, new businesses. Nonetheless, some 10.5% of the labor force remains jobless, and this continues...
Nakasone is acutely conscious of his country's $52.6 billion international trade surplus. While visiting Reagan in Washington three weeks ago, the Prime Minister seemed to promise that Japan would stimulate its economy to boost imports. But at the same time, Japanese officials are trying to bolster the country's exports through intervention in the currency markets. Says Bank of Japan Governor Satoshi Sumita: "We strongly hope the market will stabilize." Despite those politely phrased misgivings, the official Japanese presummit position, from Foreign Ministry Spokesman Yoshio Hatano, is a bland assertion that "the economic conditions in the summit countries...
...argued that offense was "good" and defense was "bad." McNamara explained to a skeptical Kosygin that if both sides restricted their defenses, they could afford to limit their offenses; while each would need enough weapons to retaliate against an attack, neither would feel it needed a surplus to overwhelm enemy defenses. Thus the arms race could be regulated and mutual deterrence assured...