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...caution. Consumers saved money at near-record rates, and corporate executives continued or even intensified penny-pinching programs to reduce costs. Today the more important of these groups has come around to all-out optimism; consumers have gone on a spending spree and are plunging into debt at the fastest pace ever to finance it. They have caught up with the bullish projections of economists, while businessmen are still lagging a bit behind...
...China signed an agreement to end "the state of war" between the two countries and establish diplomatic relations immediately. The summit was much more than a delayed coda to World War II however. The reconciliation between the two nations-one of them the world's fastest-growing industrial democracy, the other its most populous and doctrinaire Communist nation-had ended "an abnormal state of affairs," as Chou put it with considerable understatement. In resuming normal relations with Tokyo, Peking put aside the last trace of the peculiar xenophobia that scarred its foreign policy during the 1960s. An the same...
...Franklin Mint, near Media, Pa., started the big market for limited editions (TIME, July 12, 1971), and it has done so well that last year its shares were one of the fastest rising of all on the American Stock Exchange. In eight years, Franklin has advertised its way into the homes of 500,000 subscribers, most of whom have bought one or more series of silver medals. Among its new editions this year are the Presidential Journey to China Eyewitness Medal ($15) and the Signers of the Declaration of Independence ($9.50). Franklin officers expect sales to rise from $59 million...
...black community told me they're gonna be at home watching, just like it's a Joe Louis fight," Foxx said when the show began. "Means a lot to them." It must have meant a lot to other people as well. In one of the fastest ascents in TV history, Sanford shot up into the top ten rated shows, close behind Family...
...regatta in a course record 5:48.58. The Americans soundly defeated the West German runners up by four seconds, while swamping world power New Zealand by two full lengths. The Americans had arrived and, in a little under six minutes actual racing competition, were being hailed as "the fastest boat to come out of the U.S. in ten years," and odds-on favorites to strike Olympic gold at Munich...