Word: steels
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...pressing Congress for a law that would decree that most autos sold in the U.S. must be built primarily with American parts and labor. This so-called domestic-content legislation has passed the House of Representatives twice but faces opposition in the Republican-controlled Senate. Last month the steel and copper industries won judgments from the U.S. International Trade Commission that they had been seriously injured by imports. Within a few weeks, the commission will give its report to the Reagan Administration...
...steel and copper complaints were timed so that the President would have to decide what to do in the heat of an election campaign. Though Ronald Reagan claims to be a free trader at heart, he has supported quotas and other restraints on imports of autos, textiles, sugar, motorcycles and steel. Administration officials argue that these actions were political concessions necessary to prevent Congress from imposing even tighter restrictions on imports...
...were still rebuilding their economies in the aftermath of World War II. Observes Robert Gough, a senior economist with Data Resources, a consulting firm: "The domestic market was so rich that the U.S. was not as aggressive in developing foreign markets as other countries." Many industries, including autos and steel, let factories become outmoded. Companies also granted wage hikes to workers that outstripped productivity growth...
...most productive loans were for development projects like dams, factories and roads, which can help build the basis for future prosperity. Brazil, for example, borrowed $7.5 billion to make its steel industry into a world-class competitor. But many other projects turned into financial sinkholes, in part because of bad planning and incompetent management. Brazil and Paraguay are cooperating in the construction of Itaipu, the world's largest hydroelectric project, which has a dam almost five miles long. To date, nine years after it was begun, Itaipu has cost $18 billion and has generated not a single kilowatt...
Sitting in a stainless-steel vat of liquid nitrogen at Queen Victoria Medical Center in Melbourne, chilled to a crisp-320° F, are 200 glass tubes, each holding a microscopic embryo. Just two to eight cells in size, they are babies in waiting, life on ice, kept for possible use by participants in the hospital's in-vitro fertilization (IVF) program. Last week hospital officials were stunned to learn that two of their charges could be heirs to a million-dollar fortune. The news set armchair ethicists around the world abuzz and forced Australian policymakers to ponder...