World Business: Can the U.S. Compete?

In bustling Europe last week, German autoworkers punched out parts from steel that was made in West Virginia, Norwegian engineers hewed out roads with bulldozers from Illinois, and Italian drilling crews probed for oil with rigs imported from Kansas. All this went far to answer a question that nags at U.S. business: Can the high-wage U.S. economy compete effectively in world markets? It even suggested an answer to what would happen if President Kennedy wins his fight to negotiate sweepingly lower tariffs.

Those who think the U.S. can and will compete point out that U.S. exports last year climbed to a...

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