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Gratiot at 8 Mile
Israel's terms of trade worsened
during the third quarter as im-
port prices surged ahead of export
prices, the Central Bureau of Sta-
tistics reported.
The prices of import goods, ex-
cluding diamonds, rose 3 percent,
•1 WOOD MOTORS
(313) 245-0619 or 372-2600
while export prices increased a
more moderate 1.6 percent.
As a result, the terms of trade
index fell 1.5 percent following a
2.6 percent drop in the second
quarter.
LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
Symbol Name
Exchange
Nov. 18
Nov. 25
Change
5 1.75
SCIXF
Scitex
NASDAQ
9 9.75
'18.00
ECILF
ECI Telecom
NASDAQ
'18.13
'18.00
TEVIY
Teva Pharm
NASDAQ
'25.88
'24.75
I EC
PEC Israel
NYSE
'26.00
'25.38
ELBTF
Elba Computers
NASDAQ
9 9.06
'18.00
5 1.06
FREE
ELT
Elscint LTD
NYSE
'1.88
'1.88
$0.00
ELRNF
El ron Electronics
NASDAQ
'7.63
'7.50
Municipal
Bonds Listing
TAD
Tad i ran
NYSE
'22.13
'20.50
-1.63
CMVT
Comverse
NASDAQ
'12.75
'11.75
-1.00
Receive Weekly Report
LANTF
Lan net Data
NASDAQ
'15.88
'14.38
5 1.51
Member S1PC
I SL
First Israel Fund NYSE
'12.00
'11.38
Men's Fashion
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Mercedes Benz
to a larger one.
This was the calculation made
by countries such as Israel, Cana-
da and Mexico when they signed
free trade agreements with the
United States over the last
decade.
Indeed, it is Israeli economists
who fret about something else.
They say Jordanians do not earn
enough to purchase Israeli hi-tech
products.
Columnists in Israel have been
pointing out that both Israel and
Egypt received over $2 billion
each from the United States af-
ter their peace treaty 15 years
ago.
More and more, they are in-
sisting that the United States
now provide Amman with the
same: aid and not trade.
The call to Jordanians not to
be paralyzed by fear but to move
ahead was advanced the other
day by no one less than King
Hussein.
In a speech to the nation, King
Hussein declared, "It is high time
for us to define our own respon-
sibilities and priorities before we
lay upon others the responsibil-
ities of all that has befallen our
nation."
Terms of Trade Slip Again
custom
shirts by
marilyn
A
A
T
R
U
S
T
S
ordanians lack Israel's con-
fidence that bilateral trade
between the two countries
will boost the economy
of each, and fear a broader
Israeli penetration of their own
society.
As one Jordan-watcher put it,
"Jordanians believe Israel is so
advanced technologically and eco-
nomically, and so politically plu-
ralistic, that the country might
be swallowed up in an Israeli 'in-
vasion.'
"This is wrong, but this is what
Jordanians feel. It's like some-
body on the farm fearing the in-
fluence of the big city."
The fears range from the suc-
cess of Jordanian goods once they
compete with Israel, to concerns
that Israeli Western norms could
corrupt Jordan's traditional way
of life.
Jordanian fears sometimes
center on the size of Jordan's
economy, with some noting that
the economy is a small fraction of
Israel's $60 billion gross nation-
al product.
However, instead of being
swallowed up, economists note,
it is in fact the smaller market
that does better by having access
INVESTMENTS
Herman Schwartz
1
T
U)
FoM
Jordanians Fear Israeli
Economic 'Invasion'
4.GEdwanis&Sons,Ine
/NI WSVNT% RN( I /NV
BOB MORIAN
313) 336-9200 I.80165120
-1.13
Source: Allen °lender, Prudential Securities,
West Bloomfield.
41