Productivity Based Strategies for Survival

Continuing large U.S. trade deficits have made the international competitiveness of U.S. industry a central issue on this nation's policy agenda./1 The deficit is a dramatic symptom of loss of U.S. competitiveness, but the source of the problem can be traced to the early 1970s as producers in other industrialized countries gradually began to compete for a share of U.S. markets.