U.S. agricultural exports to Pacific Rim countries...
U.S. agricultural exports to Pacific Rim countries are increasing again this year but the growth is smaller than in 1989, the Agriculture Department says.
Exports to Japan, South Korea and Taiwan will not match the 10% gain of 1989, it said.
“Economic growth in the developed Pacific Rim slowed for the second straight year in 1989,” the report said. “Rising interest and inflation rates, and labor shortages in East Asia, are straining the region’s economies.”
A strengthening of the dollar against the yen may have helped dampen demand for American farm products in Japan, the report said. Meanwhile, the dollar fell against currencies of South Korea and Taiwan, helping to boost export prospects.
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