Erhard BMW

H tech," explained Mr. Modai. He
also served as minister of justice
and as minister of economy and
planning during his 20-year gov-
ernment career.
"Recently we had the wave of
Russian emigration, which car-
ried with it a large number of
technical people, eastern style,
but yet technical people. And we
are looking ahead into the future
(for) how we can produce enough
professional people in this area
to continue the wave of techno-
logical research and develop-
logical
' ment in which we have been so
successful."
The 71-year-old statesman
was not in the metropolitan De-
troit area to look into establish-
ing additional joint ventures
between Israel and automobile
H manufacturers or parts suppli-
ers, although Technion is a key
player in the development of
technology for export. "The ba-

ed by at least 12 nations, in-
cluding Argentina, Mexico,
Greece and Turkey. "If Israel is
considered a wealthy country, if
you go by the consumption of
production per capita, it may be
a wealthy country, but it is not
a well balanced macroeconomy.
It is still dependent heavily on
external support, whether it is
Jewish support, or American
guarantees, or investments,"
said Mr. Modai.
Israel's export deficit totals al-
most $1 billion every month in
foreign trade, Mr. Modai said,
but it still manages to earn dol-
lars even with that staggering
deficit. "We can't sell raw ma-
terials, we can't sell oil, we can't
even sell water because we have
a shortage of that. So basically
what we sell is brain products.
"We develop and produce soft-
ware, and sell our technologies
and our technical solutions al-

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Mr. Modal says technology means exports.

sic point is that the level of the
Israeli economy is by far higher
than all the neighboring coun-
tries even put together. The av-
erage income per capita of the
surrounding Arab countries is
about $1,300 per annum per per-
son. And in Israel, it is $16,000
per annum per person.
"That puts Israel right on the
level of the U.K. or Italy," said
Mr. Modai. "So the big question
is, how does Israel do that? It is
a country that does not have any
mineral resources. How can a
country do that which does not
even provide its own means?
"We don't grow our bread, our
meat, our sugar. We don't grow
anything except fresh vegetables
and fruit. So all that you con-
sume you have to import. Un-
fortunately, if you import, you
have to earn your foreign cur-
rency. So we had to develop a
proper export industry.
"Without foreign trade, Is-
rael's economy could not exist.
We're buying and we're selling.
That's how we manage," he said.
Mr. Modai's plan for slaying
the inflation dragon was adopt-

most all over the world, espe-
cially in the United States. There
is no high-tech company or corn-
puter company of worldwide
fame which does not have a re-
search branch in Israel.
"So it is a peculiar phenome-
non that this tiny little country
would have this large amount of
brainpower. That's why Israel is
so heavily dependent on the pro-
duction of manpower with brain-
power. And Technion has played
a major role in that since its in-
ception in 1924," said Mr. Modal.
However, he stressed that Is-
rael is worried about the future,
when no significant wave of
emigration, like that of the
Russians, is guaranteed as a
fresh source of technical work-
ers. "Capital does flow into Is-
rael, but if they exhaust the
qualified manpower, conse-
quently you can't do anything
with capital in Israel. Thus, the
business school will be a major
step forward for Israelis, who
have been very good engineers,
but so far have not been very
good business managers," said
Mr. Modai. El

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