- D - District Office
- d - Draught
- D-RAM - Dynamic Random Access Memory
- D. - Delivery, Delivered
- D.A.A. - Documents against acceptance
- D.B. - Day Book, Deals and battens (timber trade)
- d.b. - Deals and battens (timber)
- d.b.b. - Deals, battens and boards
- D.D. - Damage done
- D.D.C. - Damage done in collision
- D.D.E. - Direct data entry
- d.d.o. - Despatch discharging only
- d.f. - Dead freight
- D.F. - Direction finder
- d.l.o. - Dispatch loading only
- d.p. - Direct port
- d.p.r. - Daily pro rata
- D.R.C. - Damaged received in collision
- D.T.B.A. - Days to be agreed, date to be advised
- D.T.I. - Department of Trade and Industry
- d.w. - Deadweight
- D.W.A.T. - Deadweight all told
- d.w.c. - Deadweight capacity
- d.w.t. - Deadweight tonnage
- D/A - Deposit account, Days after acceptance, Documents
against acceptance, Discharge afloat, Deductible average
- D/A - Documents Against Acceptance
- D/C - Deviation clause
- D/d - Days after date, Days' date
- D/D - Demand Draft, Delivered at Docks, Damage Done
- D/N - Debit note
- D/O - Delivery order
- D/P - Documents against payment
- D/R - Deposit receipt
- D/s - Days after sight
- D/V - Dual Valuation
- D/W - Dock warrant
- DA - Development Assistance
- DAC - Development Assistance Committee
- DACON - Data on Consulting Firms
- DAEs - Dynamic Asian Economies
- Dairy Export Incentive Program - DEIP, one of four
export subsidy programs operated by the Department of Agriculture,
helps U.S. exporters meet prevailing world prices for targeted
dairy products and destinations. USDA pays cash to U.S. exporters
as bonuses, allowing them to sell certain U.S. dairy products
in targeted countries at prices below the exporter's costs of
acquiring them. DEIP is used to help products produced by U.S.
farmers meet competition from subsidizing countries.
- DANIDA - Danish International Development Assistance
- Danish International Development Assistance - Danish
development assistance is directed toward alleviating poverty
by promoting economic growth and social development. Recent
DANIDA policy is to increase aid quality by establishing long-term
program cooperation with fewer (20-to-25) developing countries,
by emphaiszing grants instead of loans, by strengthening the
role of women in development, and by promoting respect for human
rights and democractic values. About half of Danish aid is bilateral
assistance intended to reach the least privileged in the poorest
countries, about half the bilateral assistance is allocated
to the countries classified by the UN as least developed countries.
Most of the remaining aid is granted as multilateral assistance
through international orgnizations -- the UN system, the regional
development banks, the European Community, and as humanitarian
assistance. Following a May 1991 restructuring of Danish aid
administration, DANIDA has ceased to exist as an organization
but is used to denote official Danish cooperation with developing
countries. That reorganization established a South Group in
the Ministry of Foreign Affairs as the locus of development
assistance. South Group headquarters are in the Ministry of
Foreign Affairs, Copenhagen, Denmark.
- Data on Consulting Firms - DACON is a computerized
roster of consulting firms interested in doing business on World
Bank-financed projects. The Bank uses DACON registrations to
select firms to be considered for short lists (that is, a select
list of firms to be invited to submit proposals) as well as
to review the qualifications of firms proposed by the borrower.
Registration eligibility includes minimum size and experience
requirements. Consulting firms are not required to register;
registration does not constitute the Bank's endorsement of the
firm's qualifications or the Bank's approval of the firm's appointment
for any specific project. The use of the acronym DACON is not
limited to the World Bank; for example, the Inter-American Development
Bank also maintains data on consultants in its separately administered
DACON.
- Date Draft - A draft which matures a specified number
of days after the date it is issued, without regard to the date
of acceptance.
- DBGLS - Development Bank of the Great Lakes States
- Dbk. - Drawback
- DCM - Deputy Chief of Mission
- DCS - Defense Conversion Subcommittee
- dd. - Delivered
- dd/s. - Delivered sound (grain trade)
- Debt Swaps - See: Swaps.
- DEC - District Export Council
- Declaration by Foreign Shipper - The U.S. Customs Service
defines this term as a statement by the shipper in the foreign
country attesting to certain facts. For example, articles shipped
from the United States to an insular possession and then returned
must be accompanied by a declaration by the shipper in the insular
possession, indicating that, to the best of his or her knowledge,
the articles were exported directly from the United States to
the insular possession and remained there until the moment of
their return to the United States. (see 19 CFR 4.60 and 4.61
on U.S. clearance of vessels bound for a foreign port or ports.)
- Ded. - Deductible
- Def.a/c - Deferred account
- Defense Conversion - "Defense conversion," as applicable
to conversion of U.S. defense activity, is the transfer of defense
production capabilities to non-defense production, either non-defense
industrial products (e.g., pumps and valves) or consumer goods.
The Russians, according to their Defense Conversion Law, have
a broader definition, which includes the possiblity of a plant
maintaining its defense production while expanding its non-defense
production for other purposes, including the generation of hard-currency
exports.
- Defense Conversion Subcommittee - The DCS promotes
trade between U.S. industry and the Russian defense sector by
identifing investment opportunities, supporting changes in U.S.
government export control and other policies which limit opportunities
for U.S. industry to participate in Russian defense conversion
activities, and identifying prospective business contacts for
U.S. industry. Subcommittee membership includes the Departments
of Commerce, Defense, Energy, Labor, and State, the Agency for
International Development, the Export-Import Bank, and the Overseas
Private Investment Corporation. DCS is a subcommittee of the
Intergovernmental U.S.-Russia Business Development Committee
which was established in June 1992.
- Defense Memoranda of Understanding - Defense MOUs are
defense cooperation agreements. The MOUs are signed by DOD with
allied nations and are related to research, development, or
production of defense equipment or reciprocal procurement of
defense items. See: Coproduction.
- Defense Priorities and Allocation System - The goals
of the DPAS are to: (a) assure the timely availability of industrial
resources to meet current national defense requirements and
(b) provide a framework for rapid industrial expansion in case
of a national emergency. The authority for DPAS, which is administered
by the Commerce Department's Bureau of Export Administration,
extends from Title I of the Defense Production Act of 1950,
as amended (DPA). While the DPAS is designed to be largely self-executing,
Special Priorities Assistance (SPA) may be provided, including:
(a) timely delivery of items needed to fill priority rated defense
contracts, (b) granting priority rating authority, and (c) resolving
production and delivery conflicts between rated defense contracts.
See: Defense Production Act.
- Defense Production Act - Under authority of the Defense
Production Act (DPA) of 1950 and related executive Order 12656,
the Commerce Department is charged with identifying critical
defense-related industries, assessing their capability to meet
peacetime and national security needs, identifying current and
potential production constraints, and proposing remedial actions
as appropriate. Title I of the DPA requires that: (a) contracts
or orders relating to certain approved defense and energy programs
be accepted and performed on a preferential basis over all other
contracts and orders and (b) materials, facilities, and services
be allocated in such a manner as to promote approved programs.
See: Defense Priorities and Allocation System.
- Defense Technology Security Administration - DTSA is
the DOD organization that reviews applications for the export
of items that are subject to the dual-use license controls of
the Commerce Department and the munitions controls of the Department
of State. DTSA has about 130-to-140 staff, is located in the
Office of the Secretary, and administers DOD technology security
policy so that the U.S. is not technologically surprised on
the battlefield. DTSA reviews applications involving dual-use
items for reasons of national security, proliferation cases
and munitions controls. See: Foreign Disclosure and Technical
Information System.
- Defense Trade Advisory Group - In March 1992, the Department
of State established the Defense Trade Advisory Group to provide
consultation and coordination with U.S. defense exporters. DTAG
members are drawn from the U.S. defense industry, associations,
academia, and foundations, and include technical and military
experts, and the State Department and observers from other government
agencies. Members of the Committee are appointed by the Assistant
Secretary of State for Politico-Military Affairs. DTAG has three
main working groups: - Policy Working Group (PWG): which provides
advice on broad issues of defense trade, technology transfer
and commercial arms sales in an effort to aid State in regulating
commercial munitions exports. - Regulatory Working Group (RWG):
which provides advice on possible changes and improvements to
regulations and procedures related to defense exports of munitions
articles, technical data and software related to defense articles.
- Technical Working Group (TWG): which provides on technical
issues related to the U.S. Munitions List.
- Defense Trade Controls - DTC (formerly: the Office
of Munitions Control, OMC) at State administers licenses for
the export of defense articles and services including arms,
ammunition, and implements of war. These items are listed in
the International Traffic in Arms Regulations (ITAR) and the
U.S. Munitions List. DTC is involved in the commodity jurisdiction
(CJ) process. The CJ process is used to determine whether a
particular item should be transferred to another control list
(primarily, whether an item may be subject to the ITAR or considered
either dual-use and subject to the Commodity Control List).
See: International Traffic in Arms Regulations.
- Defense Trade Regulations - The Defense Trade Regulations
(formerly known as the International Traffic in Arms Regulations,
ITAR) are administered by the State Department to control the
export of weapons and munitions.
- Defense Trade Working Group - The Defense Trade Working
Group (DTWG), consisting of officials from Commerce, Defense,
State and USTR, was established in FY 1990 to coordinate agency
policies and resources in areas concerned with defense expenditures.
The group works with industry to identify ways to target industry
needs and increase the success of industry export efforts by
minimizing government impediments, streamlining procedures,
and improve the availability of market information. The DTWG
includes three subgroups: - The Defense Exports Working Group,
chaired by Commerce, which helps implement Administration defense
export policy and enhances U.S. government support for U.S.
defense exporters; - The European Defense Cooperation Group,
chaired by State, which coordinates interagency input to U.S.-NATO
International Staff for the NATO Council on National Armaments
Directors (CNAD) study on defense trade; and - The Technology
Transfer and Third Party Reexport Group, chaired by Defense,
which works with industry to define a more proactive technology
transfer regime that could be implemented within the limits
of U.S. national security and industrial competitiveness interests.
- Definitional Missions - See: Trade and Development
Agency.
- DEG - Deutsche Finanzierungsgesellschaft fur Beteilgungen
in, Entwicklungslndern GmbH
- DEIP - Dairy Export Incentive Program
- Delivered at Frontier - "Delivered at Frontier" means
that the seller's obligations are fulfilled when the goods have
arrived at the frontier -- but before "the customs border" of
the country named in the sales contract. The term is primarily
intended to apply to goods by rail or road but is also used
irrespective of the mode of transport.
- Delivered/Duty Paid - While the term "Ex Works" signifies
the seller's minimum obligation, the term "Delivered Duty Paid",
when followed by words naming the buyer's premises, denotes
the other extreme -- the seller's maximum obligation. The term
"Delivered Duty Paid" may be used irrespective of the mode of
transport. If the parties wish that the seller should clear
the goods for import but that some of the cost payable upon
the import of the goods should be excluded -- such as value
added tax (VAT) and/or other similar taxes -- this should be
made clear by adding words to this effect (e.g., "exclusive
of VAT and/or taxes").
- Delivery Instructions - Provides specific information
to the inland carrier concerning the arrangement made by the
forwarder to deliver the merchandise to the particular pier
or steamship line. Not to be confused with Delivery Order which
is used for import cargo.
- Delivery Verification Certificate - The U.S. Customs
Service defines a DVC as a form used to track imported merchandise
from the custody of the importer to the custody of a manufacturer
and is used to substantiate a manufacturing drawback claim.
The DVC is also known as a Certificate of Delivery (Customs
Form 331). An export license may be issued with a requirement
for delivery verification by Customs in the receiving country.
When delivery verification is required by a foreign government
for goods imported into the U.S., the U.S. Customs Service will
certify a delivery verification certificate (Form ITA-647).
A U.S. export license may require submission of a similar form
from an importing country.
- dely. and re-dely. - Delivery and re-delivery
- Demarche - Official discussion with another government
carried out on instructions.
- Demurrage - Excess time taken for loading or unloading
of a vessel not caused by the vessel operator, but due to the
acts of a charterer or shipper. Also refers to imported cargo
not picked up within prescribed time.
- Department of Trade and Industry - See: British Overseas
Trade Board.
- Deposit of Estimated Duties - This refers to antidumping
duties which must be deposited upon entry of merchandise which
is the subject of an antidumping duty order for each manufacturer,
producer or exporter equal to the amount by which the foreign
market value exceeds the United States price of the merchandise.
See: Tariff Act of 1930.
- Derivatives - Derivatives are leveraged instruments
that are linked to either specific financial instruments or
indicators (such as foreign currencies, government bonds, share
price indices, or interest rates) or to particular commodities
(such as gold, sugar, or coffee) that may be purchased or sold
at a future date. Derivatives may also be linked to a future
exchange, according to contractual arrangement, of one asset
for another. The instrument, which is a contract, may be tradable
and have a market value. Among derivative instruments are options
(on currencies, interest rates, commodities, or indices), traded
financial futures, warranties, and arrangements such as currency
and interest rate swaps.
- derrick - Lifting equipment on board a ship generally
used for loading and discharging cargo.
- despatch - An agreed upon amount of money that is paid
by the shipowner to the shipper or receiver, when loading or
discharging is performed faster than the allotted time.
- Destination Control Statement - Exporters are required
to place destination control statements on commercial invoices
and bills of lading for most export sales. These statements
alert foreign recipients of goods and documents that diversion
contrary to U.S. law is prohibited. Destination control statements
are discussed in the Code of Federal Regulations (15 CFR 786.5
and 786.6).
- Det. - Detained
- Deutsche Finanzierungsgesellschaft fur Beteilgungen in
Entwicklungslandern GmbH - DEG (English: German Financing
Company for Investments in Developing Countries) promotes direct
private-sector investment in developing countries and provides
advisory services in planning and implementing jointly financed
and managed companies. DEG operations emphasize matching small
and medium sized German companies with similar third world counterparts.
See: Deutsche Gesellschaft fur Technische Zusammenarbeit Kreditanstalt
fur Wiederaufbau.
- Deutsche Gesellschaft fur Technische Zusammenarbeit
- The GTZ (English: German Agency for Technical Cooperation)
plans, executes, and monitors technical cooperation projects
and programs in conjunction with partner organizations in developing
countries. The agency provides advisory services to German and
other national organizations, selects and trains experts, and
releases project funds. See: Deutsche Finanzierungsgesellschaft
fur Beteilgungen in Entwicklungslandern GmbH Kreditanstalt fur
Wiederaufbau.
- Development Assistance - DA refers to specific economic
assistance provided by the Agency for International Development.
DA includes "functional" accounts that emphasize long-term development
objectives for Agriculture, Rural Development and Nutrition;
Population Planning; Health; Child Survival Fund; AIDS Prevention
and Control; Education and Human Resources Development; Private
Sector; Energy and Environment, and Science and Technology Corporation,
as well as the Development Fund for Africa, and other assistance
-- the Special Assistance Initiatives and Humanitarian and Technical
Assistance for the former Soviet republics. See: Economic Support
Fund.
- Development Assistance Committee - The DAC, which consists
of most members of the Organization of Economic Cooperation
and Development (OECD), coordinates member country aid policies
and programs to Lesser Developed Countries.
- Development Bank of the Great Lakes States - The DBGLS
(French: Banque du Developpement des Etats du Grand Lac, BDEGL)
provides technical and financial assistance to promote socio-economic
development among its members: Burundi, Rwanda, and Zaire. The
Bank was established in 1977; headquarters are in Goma, Zaire.
See: Economic Community of the Great Lakes Countries.
- Development Fund for Africa - The DFA channels all
U.S. development assistance to Sub-Saharan Africa. The Fund
has put emphasis on certain sectors, including agricultural
production in connection with the preservation of natural resources,
health, voluntary family planning, education, and income generation.
The Fund is administered by the U.S. Agency for International
Development; it was enacted by Congress in 1987. See: African
Development Foundation African Development Fund.
- DF - Designated Federal Officer
- DFA - Development Fund for Africa
- Dft. - Draft
- Direct Exporting - Sale by an exporter directly to
a buyer located in a foreign country.
- Direct Investment - Direct investment is defined in
the International Monetary Fund's Balance of Payments Manual
as "investment that is made to acquire a lasting interest in
an enterprise operating in an economy other than that of the
investor, the investor's purpose being to have an effective
voice in the management of the enterprise." In the United States,
direct investment is defined for statistical purposes as the
ownership or control, directly or indirectly, by one person
of 10 percent of more of the voting securities of an incorporated
business enterprise or an equivalent interest in an unincorporated
business enterprise. Direct investment transactions are not
limited to transactions in voting securities. The percentage
ownership of voting securities is used to determine if direct
investment exists, but once it is determined that it does, all
parent-affiliate transactions, including those not involving
voting securities, are recorded under direct investment. See:
Foreign Direct Investment in the United States Foreign Person
U.S. Affiliate.
- Direction des Relations Economiques Exterieures - DREE,
located in the French Ministry of Economic Affairs, Finance
and Budget, is the main policymaking agency for export promotion
and credit activities. DREE oversees the activities of other
agencies that provide domestic and overseas export assistance,
including the French Center for Foreign Commerce (Centre Francais
du Commerce Exterieur, CFCE) and the French equivalent of the
U.S. & Foreign Commercial Service (the Poste d'Expansion
Economique). DREE also coordinates France's interagency position
on trade issues, negotiates bilateral trade agreements, and
participates in the multilateral trade talks in the European
Community and the General Agreement on Tariffs and Trade. Within
France, CFCE is the primary point of contact for export promotion
services, while overseas, the Poste d'Expansion Economique provides
promotional services to French firms. Through a network of regional
offices in France, CFCE counsels exporters and organizes overseas
trade events. CFCE also gathers and distributes trade information.
- Dirty Float - Dirty float refers to a system in which
the float of exchange rates is partially determined by government
intervention or restrictions to limit appreciation or depreciation;
sometimes known as managed float. See: Clean Float.
- Dis. - Discount
- Disbts. - Disbursements
- DISC - Domestic International Sales Corporation
- discharge - Remove goods from a ship.
- Disclosure Meeting - An informal meeting at which ITA
discloses to parties to the proceeding the methodology used
in determining the results of an antidumping investigation or
administrative review. A disclosure meeting is generally held
promptly after the preliminary or final determinations of an
investigation or promptly after the preliminary or final results
of a review. See: Tariff Act of 1930.
- DISH - Data interchange in Shipping
- Dismissal of Petition - A determination made by the
Commerce Department's International Trade Administration that
the petition does not properly allege the basis on which antidumping
duties may be imposed, does not contain information deemed reasonably
available to the petitioner supporting the allegations, or is
not filed by an appropriate interested party. This dismissal
causes termination of the proceeding. See: Tariff Act of 1930.
- Dispatch - An amount paid to a charterer by the vessel
operator if loading or unloading is accomplished in less time
than provided for in the charter party.
- Displ. - Displacement
- Dispute Settlement - This refers to the resolution
of opposing aims often facilitated through the efforts of an
intermediary. In the GATT context, dispute settlement provides
opportunities for individual contracting parties to resolve
trade problems through negotiated means or with the help of
a GATT panel of experts which rules on GATT legal practices
and recommends solutions.
- Distribution License - The DL is a Special License
that allows the holder to make multiple exports of authorized
commodities to foreign consignees who are approved in advance
by the Bureau of Export Administration. The procedure also authorizes
approved foreign consignees to reexport among themselves and
to other approved countries. Applicants and consignees must
establish Internal Control Programs to ensure the proper distribution
of items under the DL. Each program must include comprehensive
procedures for ensuring that the items exported will be used
only for legitmate end-uses.
- Distributor - A foreign agent who sells directly for
a manufacturer/supplier and maintains an inventory on hand.
- District Export Councils - DECs serve as a voluntary
auxiliary of US&FCS district offices to support export expansion
activities. There are 51 DECs with 1500 members which help with
workshops and also provide counseling to less experienced exporters.
- Diversionary Dumping - This occurs when foreign producers
sell to a third country market at less than fair value and the
product is then further processed and shipped to another country.
- DK. - Deck
- DL - Distribution License
- dm - Decimeter
- DMP - District Marketing Plan
- DMs - Definitional Missions
- Dock Receipt - A receipt given for a shipment received
or delivered at a shipment pier. When delivery of a foreign
shipment is completed, the dock receipt is surrendered to the
vessel operator or his agent and serves as basis for preparation
of the Ocean Bill of Lading.
- Document Collections -- Documents Against Payment -
Stipulate that the exporter ships goods to the importer without
a letter of credit or another form of guaranteed payment. The
importer must sign a sight draft before receiving the necessary
documents to pick up the goods. Documents Against Acceptance
(D/A) are instructions given by a shipper to a bank stating
that the documents transferring title to goods should be delivered
to the buyer only upon the signing of a time draft. In this
manner an exporter extends credit to the importer and agrees
to accept payment at a readily determined future date. See:
Draft Bill of Exchange.
- Documents Against Acceptance - Instructions given by
a shipper to a bank indicating that documents transferring title
to goods should be delivered to the buyer (or drawee) only upon
the buyer's acceptance (signature on) of the attached draft.
- Domestic Exports - Exports of domestic merchandise
include commodities which are grown, produced, or manufactured
in the United States, and commodities of foreign origin which
have been substantially changed in the United States, including
U.S. Foreign Trade Zones, from the form in which they were imported,
or which have been enhanced in value by further manufacture
in the United States.
- Domestic International Sales Corporation - The predecessor
of the Foreign Sales Corporation which took on a new definition
as a result of the 1984 Tax Reform Act. DISCs can now provide
a tax deferral on up to $10 million of exports so long as the
funds remain in export-related investments.
- Domicile - The place where a draft or acceptance is
made payable.
- Downstream Dumping - This occurs when foreign producers
sell at below cost to a producer in its domestic market and
the product is then further processed and shipped to another
country.
- DPA - Defense Production Act
- DPAS - Defense Priorities and Allocation System
- Dr. - Debit. Debtor. Drawer
- draft - Alternative spelling of draught.
- Draft Bill of Exchange - A written, unconditional order
for payment from one person (the drawer) to another (the drawee).
It directs the drawee to pay a specified sum of money, in a
given currency, at a specific date to the drawer. A Sight Draft
calls for immediate payment (on sight) while a Time Draft calls
for payments at a readily determined future date.
- draught - Designates the depth of water available at
a port or place.
- Drawback - A partial refund of duties paid on importation
of goods which are further processed and then re-exported, or
exported in same condition as imported.
- Drawee - The individual or firm on whom a draft is
drawn and who owes the indicated amount.
- Drawer - The individual or firm that issues or signs
a draft and thus stands to receive payment of the indicated
amount from the drawee.
- dreading - Option general cargo
- DREE - Direction des Relations Economiques Exterieures
- dry cargo - Any commodity which is not liquid.
- DTAG - Defense Trade Advisory Group
- DTI - Department of Trade and Industry
- DTR - Defense Trade Regulations
- DTSA - Defense Technology Security Administration
- DTWG - Defense Trade Working Group
- Dual Pricing - The selling of identical products in
different markets for different prices. This often reflects
dumping practices.
- Dumping - Dumping is generally seen as an unfair trading
practice. It occurs when a good is sold for less than its "fair
value", generally meaning it is exported for less than it is
sold in the domestic market or third country markets, or it
is sold for less than production cost. Article VI of the GATT
permits the imposition of special anti-dumping duties against
dumped goods, equal to the difference between their export price
and their ''fair value'' in the export market, if dumping causes
injury in the importing country. The sale of a commodity in
a foreign market at less than fair value. Dumping is generally
recognized as unfair because the practice can disrupt markets
and injure producers of competitive products in an importing
country. Article VI of the GATT permits imposition of antidumping
duties equal to the difference between the price sought in the
importing country and the normal value of the product in the
exporting country. With price-to-price dumping, the foreign
producer can use its sales in the high-priced market (usually
the home market) to subsidize its sales in the low-priced export
market. The price difference is often due to protection in the
high-priced market. Price-cost dumping indicates that the foreign
supplier has a special advantage. Sustained sales below cost
are normally possible only if the sales are somehow subsidized.
- Dumping Margin - The amount by which the imported merchandise
is sold in the United States below the home market or third
country price or the constructed value (that is, at less than
its "fair value"). For example, if the U.S. "purchase price"
is $200 and the fair value is $220, the dumping margin is $20.
This margin is expressed as a percentage of the United States
price. In this example, the margin is 10 percent. See: Tariff
Act of 1930.
- Duty - A tax imposed on imports by the customs authority
of a country. Duties are generally based on the value of the
goods (ad valorem duties), some other factors such as weight
or quantity (specific duties), or a combination of value and
other factors (compound duties).
- Duty - A tax levied by a government on the import,
export or use and consumption of goods.
- DVC - Delivery Verification Certificate
- dwt - Deadweight tonnage
- Dy - Delivery
- Dynamic Asian Economies - The DAEs is a collective
reference, currently comprising six Asian countries: Hong Kong,
Korea, Malaysia, Singapore, Taiwan, and Thailand.
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