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Economy: Trade Deficit, American Companies #320229

CBS Evening News for Tuesday, Mar 15, 1988
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(Studio: Dan Rather) Commerce Department's trade deficit figs. illustration Report introduced.

(NYC: Morley Safer) Many American cars reported being made in Japan, South Korea, and West Germany. American companies noted manufacturing cars and importing them into US. [Econ. Harley SHAIKEN - says competition between companies becoming more prevalent than between countries.] Other American prods. made in foreign countries listed. Singapore's economy featured; details given of American companies being major empls., scenes shown. [Kennedy School of Bus. Robert REICH - comments on situation.] American companies importing prods. into United States noted affecting trade deficit. [Chrysler International Matthew ZAK - says some consumers prefer Japanese prods.] Ford noted manufacturing cars in Mexico due to low labor costs; scenes shown. [SHAIKEN - says situation has resulted in loss of millions of American jobs.] [UAW president Owen BIEBER - describes situation.] Japanese reported opening more companies in US, thus creating jobs for Americans

Reporter(s):
Rather, Dan;
Safer, Morley
Duration:
00:03:50

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