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The article presents an outlook for the impact of a new preliminary draft on corporate foreign exchange operations to be released by the U.S. Financial Accounting Standards Board (FASB). It is expected that corporations that have been showing gains in their quarterly income statements may see major losses under the new rules. Major upward revisions on the asset side of the balance sheets of the foreign subsidiaries of U.S. multinationals doing business in Europe and Japan.

The article discusses the roles of the Versailles Treaty and the League of Nations in world security in 1933 as Japan violates the three pacts regarded as the most important in the world--the League, the Kellog pact and the Washington treaty. It talks about France's security in Europe tied to the sanctity of the Treaty while other countries believe that there is no permanent peace in Europe without revising the Treaty. It provides reasons why the League failed to take action against Japan's invasion of Manchuria, including economic interests.

Argues against the prevailing view that strong government and efficient private business are adversaries in the U.S. View of the author that big government and excess regulation damage entrepreneurship; Reference to the examples of the health care, banking and worker training sector wherein it has been proved that government is harming American free enterprises; View of writer Daniel K. Tarullo in a paper published in the Spring, 1991, issue of the periodical "The American Prospect" that stronger government is better able to broker consensual solutions to difficult social problems; Comparison of the governmental system of the U.S. with that of Europe and Japan.

The article discusses the emergence of a new world economic order and its implications for the U.S., Europe, Japan and least developed countries. It discusses the fundamental changes triggered by the shift in relations between the old economic world and the new economic world, including a sharp slowing in world economic growth, a slowing in the rise of world trade and an increase in the productivity of labor relative to capital. It discusses the rise in protectionism with the intensifying competition from the advanced developing countries.

The article offers an update on international trade as of October 1931. Currency hoarding and political issues are a cause of concern throughout Europe. The French business community is showing a lack of confidence in the U.S., Germany and England as it foresees financial and political crises in these countries. The trade relations between Japan and China are being affected by various factors including flood and famine in China and the claim by Japan that the Chinese government is responsible for anti-Japanese movements.

The article looks at the rise of foreign investments, which was caused by the stability of the U.S. dollar and infusing of foreign currencies in the U.S. stock market. Credit Suisse executive vice-president Hans J. Mast told that stocks of Japan had grown by 500 percent since the 1960s, which was 7 percent higher than the U.S. and partially contributed by the 23.4 percent purchase of Japanese stocks by U.S. investors. Experts predicted that European economies would cut inflation and increase interest rates by 1 percent in 1979.

The article reports that America's trade promotion to Eastern Europe is paying off for Western Europe and Japan. It states that Japan and Western Europe are acquiring most of the economic benefits of the increased trade imposed by U.S. officials in the early 1970s. It relates that in 1975, the 11 top industrial nations of Western Europe, along with Canada and Japan, sold over 20 billion U.S. dollars of products to the Soviet Union and its East European associates.

The article reports that stock markets world over are showing uptrends and experts are convinced that 1984 will be a banner year for the prices of stocks in Japan, Europe, and other parts of the world. This is because many indicators of a sustainable world recovery are in place for the first time since 1974. Also, inflation is down and profits are increasing, particularly in basic industries including car and chemical makers in Europe.

The article reports on the increasing costs of living abroad to U.S. executives. Some factors contributing to the rising costs of living abroad are discussed, including the continuing worldwide inflation, with 7.5 percent average rate in Europe 13 percent annual price rate increases in Italy. Results of a "Business Week" annual survey of costs of living in various cities abroad are presented, including Tokyo, Jaan with the most expensive followed by Hong Kong and Paris, France.

This article explains that Japanese industries have now become proficient technical innovators after almost a century of being the world's leading imitators. Although the country still acquire technical information from Europe and the U.S. it is determined to become a leader in science and technology. The victory of Japan in such goods as transistor radios, cameras and automobiles have become well known.

The article reports on the high cost of living in several cities worldwide, and discusses its impact on American executives living there as of April 1969. It states that though being assigned to another city used to be considered a company benefit, the increasing standard of living has begun to change executive attitudes. Cities like New York, Milan in Italy and Paris in France, are described as being among the most expensive, with Tokyo, Japan as the most expensive of all. The costs for rent, food and schools for each, are presented.

The article presents an update on the business conditions in several countries as of November 1932. Foreign exchange barriers or ban on imports in the form of quotas were implemented in Europe, while there were no developments in foreign trade in France. In Germany, there was an improvement to the operations of cotton and woolen mills. Japan is cited as the focus of business news in the Far East.

The article reports on how Europe and Japan are preparing to compensate for the oil cutback policy of Arab countries to pressurize the world on Israeli question. It is stated that the Arab policy of cutting back on oil supplies is beginning to work. It is informed that government of several European countries are taking necessary steps, including making new laws to have emergency powers to allocate or ration oil supplies.

The article offers information on automobile exports of Japan to Europe as of April 1980. It cites the increase in market shares of Japanese cars in the nine European Community nation's markets. The success of Japan's auto exports in Ireland, Switzerland and Denmark affected the automobile once dominated by the European brands.

The article criticizes the finance ministers and central bankers from different nations for their failure to compose their differences and start creating an efficient payments system that would be used by the International Monetary Fund (IMF) starting 1971. There is an agreement both in Washington, D.C. and the capitals of Japan and Europe, that the system to be used to replace the Bretton Woods monetary system should include a gradual phasing out of gold and dollar as international reserve assets. It should also realign the currency values in the world.