Word: millions
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Dates: during 1970-1979
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...services as varied as food and rents (tractors and furnaces burn fuel). So consumers will be obliged to buy less of almost everything else, notably cars, appliances and other durable goods. Squeezed by tight money, the construction rate of new homes and apartments could go as low as 1.2 million by March. As demand wanes, businessmen will further reduce production and inventories. But by late fall or early winter, their shelves and warehouses will be fairly empty, and they will have to stock up with new orders. This should send the economy up again...
...rank and file of the Patriotic Front have been recruited mainly from rural Tribal Trust Lands, where 40% of the country's 7 million blacks, employed mostly as day laborers, are concentrated. Zimbabwe Rhodesia's biggest black groups are the Shona, who form some 80% of the population, and Ndebele, who make up about 15% (whites constitute 3%). Like its leader Robert Mugabe, the bulk of the Mozambique-based Zimbabwe African National Liberation Army (ZANLA) are Shona. The Zambia-based Zimbabwe People's Revolutionary Army (ZIPRA) is dominated by Ndebele, like Leader Joshua Nkomo...
Nowhere is concern over the future more manifest than in Saudi Arabia, where a feudal monarchy rules a sparsely settled (estimated pop. between 4 million and 7 million) land containing 23.2% of the world's proven oil reserves. The ruling House of Saud was badly shaken by last month's attack on the Sacred Mosque in Mecca, the holiest shrine in Islam. It was originally reported that the attacking guerrillas were religious fundamentalists who were seeking the recognition of their leader as the Muslim Mahdi or Messiah. Saudi officials later confirmed that although some of the intruders were...
...trade between the People's Republic of China and the U.S. this year will amount to $1.8 billion. Washington has quietly but systematically encouraged the bilateral trade boom. Among major recent deals: the Export-Import Bank, which sent a delegation to the island this fall, extended $500 million worth of loans during 1979. Since January, American banks have also contributed to a $200 million loan to the Taiwan Power Co. General Electric has joined with Taiwan companies on a $30 million turbine-generators project. Said Robert P. Parker, president of the American Chamber of Commerce in Taiwan, earlier this...
...thrum with auctiophiliacs in search of a piece of the past; the top firms hold several simultaneous sales a day six days a week. In 1979 Sotheby's and Christie's, the two London-based giants of the international fine arts auction business, together have netted $702 million worldwide. Nor does anyone expect recession to cool the fever. Some indicators...