Export Markets and Domestic Policies

PEOPLE IN JAPAN WOULDN’T BELIEVE ME when, in 1982, I told them that President Reagan would cut off American equipment for the gas pipeline from Siberia to Western Europe. “That would take world leadership for heavy earth-moving equipment away from Caterpillar and the United States and hand it on a platter to Komatsu and us Japanese! But earth-moving equipment is the one heavy industry with long-term growth potential. No government would do this!” Several of the usually superpolite Japanese came close to calling me a liar when I said that the impact on the competitive position of this major American ...

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