Adjusting to a Strong $: Lessons from the European Experience

See, Eposito L. Eposito F. F. , “Foreign Competition and Domestic Industry Profitability,” Review of Economics and Statistics, 53 (November 1971): 343–353; Pugel T.A. , “Foreign Trade and U.S. Market Performance,” Journal of Industrial Economics, 29 (December 1980): 119–129; Turner P.P. , “Import Competition and the Profitability of U.K. Manufacturing Industry,” Journal of Industrial Economics, 29 (December 1980): 155–165; Hutchinson R. W. , “Price-Cost Margins and Industry Structure: The Case of a Small Economy with Bilateral Trade,” European Economic Review, 16 (1981): 247–267.

Lawrence P. R. Dyer D. , Renewing American Industry (New York, NY: Free Press, 1983); Abernathy W.J. Clark K.B. Kantrow A.M. , Industrial Renaissance: Producing a Competitive Future for America (New York, NY: Basic Books, 1983); Hayes R.H. Wheelwright S. C. , Restoring our Competitive Edge: Competing through Manufacturing (New York, NY: Wiley, 1984).

Fortune International, November 12, 1984, pp. 20–24.

Department of Industry, Report of the Working Party on the Cutlery and Flatware Industry, H.M.S.O., London, 1980.

International Business Week, October 8, 1984, p. 98.

Woolcock S. , “Iron and Steel,” in Turner L. McMullen N. , The Newly Industrialising Countries: Trade and Adjustment (London: George Allen and Unwin, 1982), p. 107.

President's Commission on Industrial Competitiveness, Global Competition: The New Reality, Washington, D.C., February 1985.

Business International, Competitive Strategies for Europe, Business International Research Report, 1983.

Ballance R. Sinclair S. , Collapse and Survival: Industry Strategies in a Changing World (London: George Allen and Unwin, 1983).

Mottershead P. , “Shipbuilding Adjustment-Led Intervention or Intervention-Led Adjustment,” in Shepherd G. Duchene F. Saunders C. , Europe's Industries: Public and Private Strategies for Change (London: Frances Pinter, 1983).

EIU, Shipping and Shipbuilding in Western Europe, EIU Economic Trends No. 50, London, 1977.

Balance Sinclair , op cit., p. 121.

Cable Vincent , Protectionism and Industrial Decline (London: Hodder and Stoughton, 1983).

See, Buzzell R.D. Wiersema F.D. , “Successful Share Building Strategies,” Harvard Business Review (January/February 1981), pp. 135–144; Hall W.K. , “Survival Strategies in a Hostile Environment,” Harvard Business Review (September/October 1980), pp. 75–85; Hamermesh R. Silk S. , “How to Compete in Stagnant Businesses,” Harvard Business Review (September/October 1979), pp. 164–165.

Levitt Theodore , “The Globalization of Markets,” Harvard Business Review (May/June 1983), pp. 92–101.

It was not until 1984 that BMW introduced a fundamentally new engine (Financial Times, April 3, 1984, p. 31).

Cable , op cit., p. 162.

Financial Times, October 25, 1983.

Industrial Protection in the Developed Countries, Johns Hopkins University, March 1984.

See, for example, The Costs and Benefits of Protection, OECD, Paris, 1984.

For a discussion of the effects of the MFA, see Silberston Z.A. , The Multifibre Agreement and the U.K. Economy, H.M.S.O., London, 1984.

Financial Times, April 4, 1984, p. 23.

This point is developed by Lorenz Christopher , Financial Times, January 16, 1984.