TOYOTA'S McCURRY TELLS DETROIT AND WASHINGTON, 'IT'S TIME TO LOOK IN THE MIRROR'
TOYOTA'S McCURRY TELLS DETROIT AND WASHINGTON, 'IT'S TIME TO LOOK IN THE MIRROR' DETROIT, Jan. 9 /PRNewswire/ -- Toyota Motor Sales, U.S.A. Inc. (TMS) Executive Vice President Bob McCurry said it was time for Detroit automakers and Washington politicians to "look in the mirror" and stop blaming Japanese car companies for their troubles. During a press conference at the North American International Auto Show here, McCurry accused the Big Three automakers and protectionist politicians of using the trade deficit as an excuse for reducing Japan's access to the U.S. market. "They really don't care about the deficit or access to the Japanese market," said McCurry. "They're trying to make this kitchen too hot for us. "The Japanese auto industry has taken American ideas and methods and refined them into the world's most efficient industrial technology .... Calling Japan predatory and unfair isn't going to change the facts," he concluded. "It's time to stop blaming others and get our own act together. We Americans have made America what it is today and we can make it better and stronger tomorrow." McCurry referred to President Bush's Pearl Harbor Day speech in citing the dangers of isolationism and its economic accomplice, protectionism. "There are those in U.S. government and industry who would isolate America; who would dictate trade rules and force the rest of the world to play by them," said McCurry. "Instead, maybe it's time to admit that our rulebook needs updating and that we may be more out of step than our trading partners." McCurry's press conference, prior to the opening of the Detroit show, coincided with President Bush's visit to Japan. Bush, accompanied by the chairmen of General Motors, Ford and Chrysler, asked Japan to help reduce the trade imbalance between the two countries and to address the problems created by Keiretsu, ownership of parts suppliers by Japanese auto manufacturers. McCurry acknowledged that Japan is not blameless and that there is, indeed, much it can do to ease the strain between the world's two economic superpowers. "There are certainly things Japan can do to make it easier for Americans to penetrate the Japanese market," McCurry pointed out. "Open up to foreign investment. Open up to American financial services. Modernize its inefficient distribution systems so that large foreign companies can compete more easily. "The United States, on the other hand, must get back on the track of economic growth through savings and investment. We should take an axe to a federal budget deficit expected to reach $400 billion next year. We should revive the investment tax credit and target it at new and improved manufacturing facilities. And we should revise the anti-trust laws to let companies cooperate even more on basic market- oriented research and development that they can't afford to do alone. That's an obvious and desirable form of American Keiretsu." -0- 1/9/92 /CONTACT: John Hanson, 310-618-4718, or John McCandless, 313-259-2004, both of Toyota Motor Sales, U.S.A. Inc./ CO: Toyota Motor Sales, U.S.A. Inc. ST: California IN: AUT SU:
DM-CH -- LA006 -- 8186 01/09/92 11:30 EST
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|Date:||Jan 9, 1992|
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