Word: trading
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Dates: during 1990-1999
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...soon as the Asian crisis began, many economists expected that it would boost the U.S. trade deficit. Countries hit by the crunch are less able to buy U.S. goods and more hard-pressed to sell their own goods; as the U.S. economy was the strongest in the world, it appeared to be the importer of last resort, buying goods when no other economy could afford them. The biggest danger from the crisis, it was predicted, was that the U.S. might refuse to play this role, erecting barriers against world trade, knocking out the supports from the global economy and repeating...
Unfortunately, this scenario seems to be playing out already. Last Thursday, the Commerce Department announced the trade deficit had hit its highest monthly level in history. Just the day before, the House has voted to approve a strict quota on steel imports, capping them at pre-1997 levels. Although the bill is expected to fail in the Senate, the 289 to 141 House vote for a blatantly protectionist measure shows how sentiment has changed in the few years since NAFTA was approved and how easy it is for matters to take a drastic turn for the worse...
...massive global import surge." Such a move would be one of the most dangerous actions we could undertake. Removing the booming U.S. economy from the world scene would make recovery far more difficult, as well as probably end the boom. Also on Thursday, the Labor Department noted that trade had kept inflation low even as unemployment stayed at record-low levels...
...Free trade may not be a magic cure-all. Promoting labor and environmental standards abroad can be a worthwhile endeavor. However, sacrificing world growth to promote the interests of the steel industry is not. If the U.S. is truly concerned about its industries and workers, the solution is not to protect them from the marketplace in which they have to compete. Stephen E. Sachs is a first-year living in Grays Hall...
Further allegations in the essay involvePresident George Bush as a player in the Kennedyassassination, head of the CIA and a helper of theChina's drug trade during his supposed "war ondrugs." Also on the Web is a copy of a 1977Esquire magazine article making similaraccusations-written by a Yale grad investigatingthe mysterious group. Allegedly, juniors beingtapped for the society undergo ordeals such asbeing immersed in mud and a coffin as well asdescribing to the members his entire past sexlife. However, no member will admit to thesetrials, and "[the members] are legendary for thelengths to which they'll go to avoid...