Mastering the World Economy: Hearings Before the Committee on Finance, United States Senate, One Hundredth Congress, First Session, Parte 1U.S. Government Printing Office, 1987 - 212 páginas |
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abroad Administration agricultural Ambassador American areas billion BRARY budget deficit Chairman companies competitive position CONGRESS THE LIBRARY debt dollar domestic economic effective exchange rates exports fast-track GATT going hearings Hewlett-Packard imbalance important industry international trade investment issue JANUARY 13 Japan Japanese kind leadership LIBRARY OF CONGRES LIBRARY OF CONGRESS look major manufacturing ment nation percent Pfizer political PRATT President protectionism question retaliation Senator BAUCUs Senator BRADLEY Senator CHAFEE Senator DANFORTH Senator DASCHLE Senator HEINZ Senator MATSUNAGA Senator PACKWOOD Senator PRYOR Senator RIEGLE Senator ROCKEFELLER Senator Roth STRAUSS talking telecommunications Thank things third world debt tion trade barriers trade bill trade deficit trade legislation trade policy problems trade problems trading partners trying U.S. Trade U.S. trade policy U.S. Trade Representative unfair trade practices United world economy YOUNG
Passagens conhecidas
Página 93 - ... intellectual property and services; subtle nontariff barriers such as regulations, standards, and investment limitations; and new national strategies that are aimed at creating a comparative advantage in key industrial sectors. Now, we can respond to some of these changes by increasing membership in GATT, by expanding its coverage to include such items as intellectual property and services, and by providing it with the ability to exercise multilateral pressure on trade offenders. It is vital...
Página 76 - LEADERS, THINK TANKS OF ALL POLITICAL PERSUASIONS, AND ACADEMICS HAVE BEEN WORKING TO EXPLAIN OUR TRADE PROBLEM AND DEVELOP NEW SOLUTIONS. HOWEVER, THE SEARCH FOR NEW IDEAS, WHILE WORTHWHILE, HAS BECOME AN END IN ITSELF. WE MUST NO LONGER POSTPONE ACTION. WE MUST REDUCE THE DEFICIT, DEAL WITH THIRD WORLD DEBT IN A SENSIBLE FASHION, CRACK DOWN ON UNFAIR TRADE PRACTICES, AND COORDINATE TRADE POLICY WITHIN THE EXECUTIVE BRANCH, WHETHER WITH A NEW OFFICE OF US TRADE ADMINISTRATOR OR A NEW TRADE DEPARTMENT....
Página 79 - I want to take this opportunity to commend you for holding this hearing, because, as has been pointed out, it is an extremely important topic.
Página 89 - ... and adverse conditions consisting of extremely high exchange rates for the dollar, unusually high consumption centered growth in the US, slow growth abroad, and huge US budget deficits. Longer Term US Competitiveness Problems In addition to mounting trade deficits, there have been disturbing signs of a decline in this country's ability to compete in world markets: • For over a decade. US productivity has consistently grown more slowly than that of our competitors, and has often lagged behind...
Página 24 - ... is going to continue Importing more from, and exporting less to, sluggish economies abroad. We are also aware that the recent strength of the dollar In exchange markets is largely a result of the strength of the US economy and the US fiscal position. However, there can be no -escaping the fact that billions of dollars In market opportunities for US firms, here and abroad, are lost because of the unfair and unreasonable trading practices of our competitor nations. In Europe, the Far East and around...
Página 98 - ... environment. We have managed the mix of trade, fiscal and monetary policies in such a way as to create competitive disadvantages for American firms. The challenge before you, then, is to articulate a world view that includes all of these policy factors to determine what can and cannot be accomplished through trade policy, and then to be sure that appropriate initiatives are undertaken to address these other factors that determine our performance. It will be a formidable task. You will undoubtedly...
Página 96 - ... adjustment mechanism to avoid the imbalances we've experienced in recent years. That brings me to my fourth and final conclusion: The process of reconciling fiscal, monetary and trade policy on a multilateral basis needs our focused attention. There is no Adam Smith with an invisible hand out there that makes trade flows all balance out smoothly. If trade were only bilateral, imbalances would correct themselves rather quickly. You stop buying my wool, so I can no longer buy your wine. But in...
Página 75 - THE EXECUTIVE BRANCH MUST SPEAK WITH ONE VOICE ON TRADE POLICY. WE NEED A TRADE POLICY FOR AMERICA ~ NOT A TRADE POLICY FOR TREASURY, COMMERCE, STATE, STR OR DEFENSE. TRADE PROBLEMS MUST RECEIVE THE PERSONAL ATTENTION OF THE PRESIDENT AND HIS WHITE HOUSE ADVISORS. I CAN'T EMPHASIZE THIS POINT ENOUGH. NO FOREIGN NATION WILL TAKE OUR TRADE NEGOTIATIONS AND POLICIES SERIOUSLY UNLESS THEY BELIEVE THAT THE PRESIDENT IS PERSONALLY INVOLVED IN THE PROCESS.
Página 92 - ... the last decade-and-a-half, and despite the fact that imports and exports now comprise more than one-fifth of US manufacturing output and fully 70 percent of our manufactured goods are fully exposed to international competition; and despite several rounds of talks to expand and strengthen the GATT, today only 15 percent of trade restrictions are covered by any agreed-upon rules. In 1950, fully 40 percent of such barriers were covered. But the simple, post-World War II challenge of reducing high...
Página 98 - The environment has changed dramatically, and government created this environment. We have managed the mix of trade, fiscal and monetary policies in such a way as to create competitive disadvantages for American firms. The challenge before you, then, is to articulate a world view that includes all of these policy factors to determine what can and cannot be accomplished through trade policy, and then to be sure that appropriate initiatives are undertaken to address these other factors that determine...