Word: pounded
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Dates: during 1960-1969
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...threat of a major conflict hovered over the 4,500-mile frontier between the Soviet Union and China. In at least two all-out battles this year on the Ussuri and Amur rivers, which separate Siberia and Manchuria, the Soviets called in armor and heavy artillery to pound the Chinese. Tensions rose to the point where the Soviets hinted that they might even launch a preventive strike against China's nuclear installations unless Peking agreed to negotiations aimed at settling the conflict. The war of nerves was threatening to get out of hand. Last week, after months of trying...
...Misgivings. One reason for the party's good cheer was the recent news that Britain's balance of payments, for the first time in seven years, showed a $115 million surplus during the first half of this year. Since the effects of the 1967 devaluation of the pound are just starting to be felt in export orders, Britain probably has a good chance of extending its boomlet so long as world trade maintains its current brisk pace. Wilson, however, must still contend with deep national misgivings about his record and even deeper bitterness among trade unions, whose leaders...
Market countries are higher than Britain's. A pound of butter costing 400 in Britain sells for $1 in Common Market nations, and beef prices are 25% higher in the six member nations...
...hope that the combination of the recent 12.5% French devaluation and an eventual German revaluation would add up to almost a 20% shift in the official values of the two currencies-making the difference in their formal exchange rates accurately reflect the gap in their real worth. The British pound, which used to sink on any hint of monetary uncertainty, rose last week. Britain's success in achieving a balance of payments surplus this year has strengthened a growing conviction that the pound might really be worth its $2.40 official value...
Ironically, both synthetics makers and foreign growers were given access to cotton's domain as an unforeseen result of U.S. Government policy. The troubles began with rigid, Depression-born price supports, which eventually reached a peak of 32½? a pound in 1955. They were aimed at propping the growers' income, but in the process they raised the price of U.S. cotton above the going world rate. The Government's solution to that problem was to subsidize exports, beginning in 1956. That move, in turn, created a crisis for domestic mill ers, who complained that they...