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Focuses on competition faced by the computer software industry in the United States. Dominance of U.S. companies in the world software industry; Efforts of rivals of the U.S. software industry such as Japan, Germany, Canada and Singapore, to build up their own software capabilities; Discussion on visible signs of weakness in the U.S. computer software industry; Display of Japan's software prowess, evident in its quality exports. INSET: Eureka may be Europe's ticket to software sovereignty, by J.B....

This section offers news briefs on world business. The German foreign trade has been affected by the U.S.-Brazil trade deal. The Japanese government decided to officially devalue its gold holdings in order to meet international payments. The U.S-Brazil trade deal involving gold standards will benefit Brazil because the Brazillian currency will be pegged to the dollar.

The article reports on the concern of foreign central banks over the strength of the U.S. dollar in 1979 and what harm it might do to their economies. It discusses the disagreement between the U.S. Federal Reserve Board and the German, Japanese and Swiss central banks over just how strong the U.S. dollar should be in the coming months. The article details how the strength of the U.S. dollar has been pushing central bankers to choose between currency stability and recession.

The article looks at the plan U.S. companies and institutions to venture in foreign markets in 1978. Said plan was triggered by the 1.6 billion U.S. dollar government bonds acquired in German marks. Reportedly, several U.S. banks including Chase Manhattan, BankAmerica, and Citicorp made money in markets in Germany, Switzerland and Japan. However, it notes that the main concern of raising funds in foreign markets is the risk of exchange rate between the U.S. dollar and the funded currency.

The article offers information on the problems being faced by Japan since its trade agreement with the U.S. lapsed on January 26, 1940. As stated, the Japanese government is resenting the loan of 20,000,000 dollars provided to China from the U.S. Export-Import Bank. Moreover, Germany's trade with China has led to another set back for Japan as the German machinery is no longer available to it.

Presents information on U.S. Democratic presidential candidate Paul E. Tsongas. Comment on how his party needs to drop their business-bashing and class warfare; View of Tsongas on how the U.S. takes on economic superpowers Germany and Japan; Report that he wants the government to deal with a shortage of venture capital by stepping in and investing in promising technologies; Opinion of Republican strategist Kevin Phillips calls Tsongas, the last of the Atari Democrats, referring to a late 1970s breed who wanted more government-industry cooperation to meet global competition, particularly in high-tech industries.

The article comments on United States Federal Reserve Board's attempts to beat down inflation. The Board is willing to tolerate slow growth. The Board cannot back off from its professed goals without undermining its hard-won reputation as an inflation-fighter. The continued willingness of West Germany and Japan to pursue low-inflation policies can only make the Board's job easier.