The Costs of Foreign Debt for the United States and the Third World: Hearings Before the Subcommittee on Economic Stabilization of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, Ninety-ninth Congress, First Session, June 20; July 16, 18, and 25, 1985
United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Economic Stabilization
U.S. Government Printing Office, 1985 - Balance of payments - 344 pages
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abroad action American assets balance banks become believe Bergsten better billion borrowing budget deficit capital inflow cause Chairman LaFalce competitive Congress continue correct costs course crisis current account deficit debt debtor decline demand developing countries direct discuss dollar domestic economy effect exchange rate exports external fact factors fall Federal Feldstein finance fiscal flows foreign funds future going growing growth hearing higher impact imports improve income increase industries inflation interest interest rates investment investors Japan look major manufacturing markets Martin Mayer means move overvalued percent period political position problem production question reason recent reduce relative Reserve result rise savings sector share situation spending statement strong talk Thank things Third World trade balance trade deficit United
Page 271 - BEFORE THE SUBCOMMITTEE ON ECONOMIC STABILIZATION OF THE HOUSE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS Mr.
Page 272 - I express this afternoon are my own and do not necessarily reflect those of my colleagues at the Overseas Development Council or its Board of Directors.
Page 11 - STATEMENT OF C. FRED BERGSTEN, DIRECTOR, INSTITUTE FOR INTERNATIONAL ECONOMICS Mr. BERGSTEN. Thank you very much, Mr.
Page 142 - H years, the value of the dollar has risen some 70 percent against the currencies of US major trading partners, raising the price of exports and lowering the cost of imports. The absence of effective remedies to address domestic injury caused by imports has worsened the impact of the vastly overvalued dollar. US trade law and policy must be brought into line with today's trade realities. The academic abstractions of free trade and natural comparative advantage, if they ever had any relevance, are...
Page 228 - Mr. Chairman and Members of the Subcommittee: I am pleased to respond to your invitation to...
Page 151 - ... products, as well as products and commodities where worldwide excess capacity exists. • Solutions to the serious problems faced by US industry in the area of counterfeiting and intellectual property rights, such as computer programs, films and recordings, should be a US objective.
Page 136 - Balance-of-Payments Authority (a) Whenever fundamental international payments problems require special import measures to restrict imports — (1) to deal with large and serious United States balance-ofpayments deficits, (2) to prevent an imminent and significant depreciation of the dollar in foreign exchange markets, or (3) to cooperate with other countries in correcting an international balance-of-payments disequilibrium, the President...
Page 151 - Failure to take such steps would result in the denial of most-favored-nation treatment as long as -12that country remained out of compliance. The AFL-CIO strongly believes that competitive advantage in trade should not be derived from the denial of the right to freedom of association, the refusal to insure a safe work environment, the exploitation of child labor or other such reprehensible practices. Injury Relief The "escape clause...