Word: sectored
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...wants the World Bank and the IMF to supervise closely countries that receive the new loans, to make sure the funds are used for economic changes that will stimulate long-term growth. One specific U.S. prescription: the debtor nations should turn over many state-run operations to the private sector. Says Rimmer de Vries, chief international economist for Morgan Guaranty Trust: "Latin American countries have relied far too much on government enterprises, which are usually inefficient, bureaucratic behemoths." The debtors must also take measures to slow down their capital flight so that money from the new loans does not simply...
...trade deficit is for American firms to become more productive--and better salesmen abroad. U.S. firms must turn out high- quality products that earn their markets. Says John Young, president of Hewlett-Packard: "Government can't legislate success; the responsibility for being competitive falls squarely within the private sector." The major tasks ahead for American firms...
Government/Public Sector...
...stand on apartheid, but that this latest investment requirement has "political" implications. The writer mentions that Harvard used to require companies in which it invests to abide only by the Sullivan Principles, which are incorrectly defined as standards of corporate conduct in the workplace and not in the public sector. In fact, Sullivan requires active participation in the political process, lobbying against fundamental aspects of apartheid. Harvard has denounced apartheid in this manner for years and recent efforts to improve this denunciation do not imply the opposite...
...shareholder, Harvard should try to persuade companies in which it owns stock to do more to play a positive role in the face of apartheid. The opportunities here are significant, since the business sector in South Africa has tended in recent years to be much more progressive than the government on issues involving apartheid. In fact, within the white community, business has become one of the most influential forces calling for major reforms. By voting shares and by communicating with management, the University can urge firms in its portfolio not only to improve the conditions of their nonwhite workers...