Lange warns exporters
By
BRENDON BURNS
political reporter Companies wanting to export successfully to the American ; market next year | would have to be extraordinarily competitive, I said the Prime Minister, Mr I Lange, yesterday. | i In: an address to Hutt Valley r business people, Mr Lange (said there was likely to be a contraction in the American economy in 1989! i This be the case
whether George Bush or a Democrat won the Presidential election. Mr Lange said New Zealand should take note that the value of the American dollar reflected the state of the American economy. The United States dollar was now worth less than half against the Japanese yen than at its peak in 1985.) Such a movement in the exchange rate was unnerving, said Mr Lange.
The United States dollar had gone'as high as it had 'because the United States jwas having a party on borrowed money. I “Now the party appears to be over, the American (dollar has come down and (the United States is going to be al more difficult market for any country’s exports, Burs included.” i Mr Lange said the centre of , financial power (was shifting ! from (America to Japan and (Europe, j
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Press, 8 April 1988, Page 3
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200Lange warns exporters Press, 8 April 1988, Page 3
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