Word: national
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Dates: during 1960-1969
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...reason why U.S. travelers in the Orient have often been tempted to buy goods made in Red China. Not until last week did the State Department belatedly drop its total prohibition against such imports and declare that returning tourists may bring back $100 worth of Chinese merchandise (see THE NATION). The dispensation delighted shopkeepers in Singapore and along Hong Kong's sleazy Upper and Lower Lascar Row ("Cat Street"). In some of the larger Peking-controlled emporiums in Hong Kong, English-speaking shopgirls stood like smiling spring flowers beneath red banners and Mao portraits, waiting to take some...
...overall economy. Retail sales leveled off months ago, and auto sales have turned sluggish. New orders for durable goods declined 3% in June. For the first time in eleven months, manufacturers were filling old orders faster than new business was coming in. So far in 1969, the gross national product has risen at a real annual rate of only 2.4%, compared with the 6% increase of 1968's first half. The real growth of the nation's economy has moved down in each of the past four quarters...
Disheartening Earnings. The stock market faces some problems it did not have in 1966. Investors are worried about the likelihood of higher taxes on capital gains and a reduction in the oil-depletion allowance (see THE NATION). Corporate profits are another disheartening factor. Earnings remained at record levels all through the 1966 market slide. This year most companies reported rises for the second quarter, but there have been some major exceptions, notably in steel, autos and airlines (see following story). Compared with the second quarter of last year, earnings fell 17% at Kaiser Industries, 17% at General Motors...
...efforts to preserve-and not to offend-this intricate organization. Nelson Rockefeller is elevated to near sainthood before he is politically buried. Even Lyndon Johnson, sulking back on the ranch-the man who White points out was most responsible for Viet Nam, fragmented his party, nearly destroyed the nation's trust in its government-gets his requiem. "Few men have done more good in their time...
White's third account ultimately disappoints. What is bothersome in the book is bothersome in the nation. As White himself explains: "It is difficult to be precise about the nature of the nightmare year out of which came Nixon's election. No phrase, no thought can catch, hold and bind together in one frame all the roaring events, the blood and disorders, the inflation and uprisings...