On the recordSeptember 17, 1997
So we have seen a great deal of change not only in cultural and social developments but a great deal of change in more important things, like technological changes and changes in trade and the like. We have seen a great deal of change in other societies, in fact in the world, since 1952. We have an agreement that governs the policy with regard to aircraft flights from the United States to Asia that was agreed to in 1952, yet the world has seen a great deal of changes. Technological changes have been rapid and continue to change with every passing day. International trade is different today. In fact, the Asian market back in 1952 is not the Asian market that exists in the United States. Over the past two decades, U.S. foreign trade and foreign investment with East Asia has soared, increasing faster than economic ties with any other region. Between 1978 and 1996, U.S. exports to East Asia grew 620 percent, while during the same period U.S. exports to all of Europe increased by around 246 percent. In 1996 the value of total U.S. exports to Asia surpassed that of exports to all of Europe.
Source
govinfo.gov




