Balance-of-payment problems

For the noble metals used in oxidation, the loading is about 0.1 oz per car, with calls for a million ounces per year. The current world production rates of platinum, palladium, and rhodium are 1.9, 1.6, and 0.076 million ounces respectively the current U,S. demand for platinum, palladium, rhodium, and ruthenium are 0.52, 0.72, 0.045, and 0.017 million ounces respectively (72, 73). The supply problem would double if NO reduction requires an equal amount of noble metal. Pollution conscious Japan has adopted a set of automobile emission rules that are the same as the U.S., and Western Europe may follow this creates a demand for new car catalysts approaching the U.S. total. The bulk of world production and potential new mines are in the Soviet Union and South Africa. The importation of these metals, assuming the current price of platinum at 155/oz and palladium at 78/oz, would pose a balance of payment problem. The recovery of platinum contained in spent catalysts delivered to the door of precious metal refiners should be above 95% the value of platinum in spent catalysts is greater than the value of lead in old batteries, and should provide a sufficient incentive for scavengers. 

And, although more high-level policy attention is usually given to the problem and performance of such industries as steel, chemicals long ago surpassed most of these sectors in contributions to the gross national product. Furthermore, chemicals, stimulated no doubt by its enviable performance in developing new products, has continued to make a strong positive contribution to our balance of payments. 

The base of potentially exportable services was too small to make up for this and productivity gains in services rarely equalled those in manufacturing. North Sea oil s benefits to the balance of payments have only been helping to cover up the basic problems in manufacturing and elsewhere. 

This policy shift can build upon new or already existing, but dormant provisions in unemployment and social assistance schemes and related objectives. Activation tips the balance in favour of a more active and inclusive rather than passive and exclusive approach. Hence, activation means stronger intervention in spells of unemployment or inactivity periods and fewer acceptances of long-term benefit dependency and associated public expenditure. Traditional social policies are seen as part of the problem, less as a solution. In particular, transfer payments are perceived as having detrimental side-effects on individual employability and the overall performance of the labour market (Van Berkel and Homemann Moller 2002). 

It has already been mentioned that many pharmaceutical companies serve an international industry, thereby contributing to the balance of import/export payments. Since exports frequently demand different print layouts, and one or more languages in the text, there have always been problems associated with small print runs. In-house printing is expected to increase either as a separate printing operation away from the production line or as an on-production line process. Although several printing... 

This component of current assets is crucial to the liquidity of the business. In recent years its importance has been recognised as more companies become squeezed for cash. It is not always recognised, however, that logistics variables have a direct impact on this part of the balance sheet. For example, the shorter the order cycle time, from when the customer places the order to when the goods are delivered, the sooner the invoice can be issued. Likewise the order completion rate can affect the cash flow if the invoice is not issued until after all the goods are despatched. One of the less obvious logistics variables affecting cash and receivables is invoice accuracy. A customer who receives an inaccurate invoice is unlikely to pay and the payment lead time will be extended until the problem is rectified. 

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