SHULTZ WARNS ASEAN OF LOOMING TRADE PROBLEM
  U.S. Secretary of State George Shultz
  warned members of the Association of Southeast Asian Nations
  (ASEAN) they could no longer rely on increased exports to the
  U.S. For growth.
      "Given the importance of exports, particularly export
  manufactures, to all of your countries, you are going to have
  to work hard to diversify your markets," he said.
      "While you may be able to maintain your current market share
  in the U.S., You clearly will not be able to look to the U.S.
  To take major increases in your exports," he added.
      Shultz told the foreign ministers of Brunei, Indonesia,
  Malaysia, the Philippines, Singapore and Thailand the U.S.
  Would cut its huge foreign trade deficit more rapidly than many
  now believed.
      He said ASEAN's looming trade problems would not
  necessarily stem from protectionist legislation now being
  contemplated by Congress, "but simply because of the adjustments
  the U.S. Economy will have to make in order to service our
  large and growing external debt."
      Shultz said the U.S. Deficit had resulted not from falling
  exports but from higher imports that had fuelled world growth.
  

