Word: shrunk
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...paying off. The Louis Harris Survey last week produced new evidence that Nixon has been gaining popular support because of the "law and order" issue. Similarly, a new Gallup poll released this week shows that, while the 16-point lead Nixon enjoyed over Humphrey after the G.O.P. Convention has shrunk somewhat, he still commands 43% of the nationwide vote against 31% for Humphrey and 19% for Wallace...
Ojukwu's military situation, on the other hand, has grown steadily worse. The Biafrans' territory has shrunk to less than one-third its original 29,000 square miles, now fills a lopsided circle about the size of Vermont. The Ibos hold only three important cities?Aba, Owerri and Umuahia?and federal forces are pushing toward all three. Increasingly, the Biafrans have based their defense on quick guerrilla-type strikes, which are the specialty of a small group of hard-bitten European mercenaries who have thrown in their lot with Biafra. Last week, in one of their most successful raids...
French workers, besides splurging on vacations at a rate unprecedented in a holiday-happy country, spent enough of their higher wages to lift July retail sales 10% above the 1967 level. Strike-depleted inventories have shrunk so low that many industries expect a manufacturing boom in the fall. Says Finance Minister François-Xavier Ortoli: "The outlook is better than we could have ex pected. The economy is righting itself...
...hope of forestalling border taxes and surcharges, West Germany has pressured the Common Market to speed up its own Kennedy Round tariff cuts without corresponding acceleration by the U.S. Such action would bolster the inflation-shrunk U.S. trade surplus by hundreds of millions of dollars over the next 31 years. So far, France has blocked agreement inside the EEC, but Common Market ministers will tackle the question again this week in Brussels. Hard-pressed Britain has announced that it is willing to grant full Kennedy Round cuts by next Jan. 1 instead of holding to the original five-year timetable...
Until lately, most Western bankers figured that the creaking monetary system would hold together long enough-perhaps another three years-to let reserves artificially created by the IMF begin to supplement gold's historic role. British devaluation and two subsequent runs on gold have drastically shrunk the transition time. "The monetary system is now in a continuous and drawnout crisis," says Roy L. Reierson, senior vice president and chief economist of Manhattan's Bankers Trust Co. Last week Reierson added his voice to those demanding that the London gold pool be closed, and that the U.S. limit...