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In late 1996, many analysts thought that U.S. dominance in this industry would be further strengthened when Boeing announced a decision to acquire Mc-Donnell Douglas for $13.3 billion, creating an aerospace behemoth nearly twice the size of its nearest competitor.
The industry is routinely the largest net contributor to the U.S. balance of trade, and Boeing is the largest
U.S. exporter. In the 1990s, the U.S. commercial air-craft industry regularly ran a substantial positive trade balance with the rest of the world of $12 billion to $15 billion per year. The impact of the industry on U.S. employment is also enormous...
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