Word: export
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Dates: during 1970-1979
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ETHIOPIA. Pop. 28 million. Chief export: coffee. Religions: Christianity (Coptic) and Islam. A military government with increasingly Marxist orientation. The armed forces, numbering 50,000 men, have been equipped until recently by the U.S. The regime is embattled on several fronts. One is the northern province of Eritrea, where the Sudanese-supported Eritrean Liberation Front, after more than a decade of fighting, claims it controls two districts and has Ethiopian forces pinned down in other urban areas. Another is the Somali border, where Ethiopians and Somalis have quarreled. Meanwhile the French Territory of Afars and Issas, with its key port...
...light-but nothing will for long ameliorate a lack of food. The American population isn't going up much any more, but the food supply must be kept high even though the prices and difficulty of distribution force each American to eat less. Food is needed for export so that we can pay for some trickle of oil and for other resources...
...fool's paradise; other nations casually resort to a variety of ruses to keep out unwanted goods. No fewer than 850 nontariff barriers have been uncovered that do not necessarily break the letter of the law of free trade but certainly tax its spirit. Foreign governments may subsidize export industries by waiving taxes or granting easy bank loans. They may impose cumbersome safety standards, customs procedures and packing and labeling regulations. Japan, for example, insists on its own chemical analysis of imported perfumes and cosmetics; the delays in completing the tests discourage many foreign companies from seeking sales...
...protectionism encourages another nation to retaliate so that any gain is canceled out. Spain imports three times as much from the U.S. as it exports. If its shoe sales to the U.S. are seriously curtailed, it can buy elsewhere-hurting American export industries. Trade restrictions ensure the survival of the least fit: businesses that cannot compete on their own in the world economy. This kind of coddling of inefficiency leads eventually to economic stagnation. In sum, protectionism is often a matter of robbing a productive Peter to pay a nonproductive Paul...
...capital and manpower is plentiful. South Korea and Taiwan, whose rapid economic progress has set an example for the entire underdeveloped world, are utterly dependent on the U.S. mar ket for the sale of shoes. In just nine years, Brazil has created from virtually nothing a $170 million shoe export business...