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Houston, Texas / Economic Summit / Shifting Balance of Power #130134

ABC Evening News for Sunday, Jul 08, 1990
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(Studio: Forrest Sawyer) Report introduced.

(Washington: David Ensor) The shifting balance of world economic power, in which the United States is fast losing ground, examined. [Economic Strategy Institute president Clyde PRESTOWITZ - says United States could soon be third, behind Japan and Europe.] [International Institute for Strategic Studies Francois HEISBOURG - comments on approach of United States to its economy.] Assertion by international economists that United States tax laws must be changed to encourage Americans to save, not spend, detailed. [PRESTOWITZ - compares taxing interest in savings accounts in United States and elsewhere.] Likelihood of an economic boom in Europe explained. [Georgetown University professor Gary HUFBAUER - says Germany will probably boom.] Need for a political will to make real economic changes in United States noted.

Reporter(s):
Ensor, David;
Sawyer, Forrest
Duration:
00:02:50

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