Word: undersold
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Dates: during 1980-1989
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While there are both benefits and drawbacks in a strong currency, the overall effects on the U.S. economy are positive. A weak dollar in the late 1970s permitted American companies to grow lax because they rarely had to worry about being undersold by foreign competitors. Now a strong dollar will force U.S. firms to hold down prices and boost productivity both at home and abroad in order to be leaner, tougher and more competitive. William MacKenzie is export manager for a small Los Angeles company that sells household appliances and building supplies to Europe, the Far East and Latin America...