Word: pounded
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Dates: during 1960-1969
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Early last week the Pakistanis mounted a counteroffensive and drove the Indians back to the border. Some hungry, homeless inhabitants returned to Kasur, but now death rained down from the sky. On Sept. 14, Canberra bombers of the Indian Air Force blew up a two-block area with thousand-pound bombs and demolished a factory complex on the city's outskirts. Kasur was hit almost daily by Indian jets pumping 20-mm. shells into anything that moved. An estimated 1,200 dead lie buried in the ruins...
...need to restudy industry's incentive to modernize, but otherwise is silent about how such productivity gains can be managed. In fact, the plan's architects admit that the economic slowdown the government is now trying to bring about in order to preserve the value of the pound will deal their growth timetable a severe blow this year. Though insisting that sharp limits be maintained on outlays for defense and foreign aid, the planners call for a 29% expansion of government civil spending by 1970, including boosts of up to 41% for roads, public housing, health, welfare...
Britain had little to cheer about, either, in the battle to overcome its unfavorable trade balance, the source of the pressure on the pound. Figures announced last week showed that the deficit climbed from $140 million in July to $263 million in August. Whatever their other disagreements, both the framers of the new economic plan and its critics seemed to agree about one thing: increasing austerity remains in order for Britain...
...defend a host of obsolete prerogatives and work practices that are the despair of man agement efforts at efficiency-and often of labor union leaders themselves. This year alone, Britain's auto industry, main stay of Prime Minister Harold Wilson's export push to bolster the sickly pound, has already been hit by 109 separate strikes equaling 645,000 lost work days- nearly every one an unauthorized, wildcat strike...
...European elections-both scheduled and potential-double the difficulty of ending these impasses. Britain's precarious Labor government, preoccupied with saving the pound, lacks the political and economic base to spur European negotiations and inspire EFTA, of which Britain is the reigning member; furthermore, it may soon find itself facing an election at home. Reinforcing the pound's defenses, the U.S. and nine other countries last week agreed on additional (but unspecified) short-term credits for sterling. Though the speculation-fighting arrangement came at a time when the pound was already gaining strength, one nation made itself conspicuous...