Commercial aviation: There are, in addition, possible Japanese advantages stemming from this sale insofar as it may accelerate the capacity of the Japanese to compete with the American commercial aircraft industry.

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At the moment, there's already a fierce lobbying battle between owners of private aircraft and the commercial airline industry over how the funding should be structured.

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Unlike the U.S. commercial aviation industry, with strict Federal Aviation Administration oversight that can ground a fleet of aircraft, the cruise industry is largely accountable to countries like Panama or the Bahamas -- which may or may not want to offend their cruise line friends in Miami.

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He became boss of Boeing's commercial-aircraft division, which he ran for eight years and steered through the violent shocks inflicted on the industry by the slumps in air travel after the terrorist attacks on America in September 2001, the SARS scare and the Iraq war.

ECONOMIST: Ford