Article Abstract:
The move toward a single European market in 1992 is accelerating, but there are problems predicted that may initially outweigh benefits. Job losses, labor unrest, economic disruption, trade deficits, and social polarization may result from the European Free Trade agreement. There have already been beneficial changes such as a change of agricultural policy among the countries, a loosening of financial services regulation, and road transportation deregulation. However, experts believe that economic benefits predictions are too high. Some European companies are not prepared for the increase in competition; transport, finance, and telecommunications will be very vulnerable to increased competition.
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Article Abstract:
Consumers consider the environment to be a very important political issue, and companies are beginning to make business practices environmentally sound, as well as to fix damage caused by industry. Increased awareness of problems and regulation, however, has a high price tag. The Organization for Economic Cooperation and Development (Paris, France) estimates that the price of adjusting to the greenhouse effect will reach three to four percent of the world GNP within the next three decades. The important issues of the environment are complicated, and they may affect the European Community's push to create the internal market by 1992.
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Chrysler Corp's $25 million purchase of Lamborghini Motors reflects the company's desire to enhance its image, boost its European prospects, and bring improved technology into Chrysler cars. Increased production of Lamborghini cars to 3,500 annually after five years may cause a gradual 'vulgarization' of the famous sports car. Forecast sales for this year amount to just 450 vehicles.
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