In today s hearing, we will be focusing on Y2K s impact on the economy. And, while I am increasingly confident in domestic Y2K preparedness, I am somewhat alarmed at the international Y2K picture. The United States has always prided itself on its independent nature. As a Senator from the state of Utah, I have a particularly strong sense of the rugged individualism that built America. This does not, however, blind me to the fact that the health and welfare of the U.S. is intrinsically bound to the viability of the global economy.
Foreign factories supply critical parts to American automakers.
During the winter months, our fresh produce is imported from Chile. Ingredients used by pharmaceutical manufacturers originate from all around the world. And let s not forget petroleum. In addition, a vast array of American-made products find their way to the most obscure locations across the globe. I am sure that some of you have had the experience of travelling abroad.