Word: slowdown
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...life is getting better, fast, for many Chinese. Industrial production has leaped along with food output. Early in 1985 it was increasing at an annual rate of 23%, a pace Deng and his planners judged too rapid. They ordered a slowdown to avoid shortages and worsening inflation. In Mao's days, Chinese consumers dreamed of buying the "three bigs": a bicycle, a wristwatch and a sewing machine. Now the three bigs are a refrigerator, a washing machine and a TV set. "Imagine," says a Western diplomat. "Some people living in the heart of Guizhou province now see the evening news...
Since 1981, however, the standard of living has fallen about 6% as inflation, currently running at 10% annually, has eaten into the purchasing power of stagnating wages. The slowdown exposes the limitations of Hungary's miracle. The economy remains dominated by state-owned companies that still look disturbingly similar to the ossified factories of its East bloc neighbors. Productivity is woefully low. Says Economist Berend: "Sometimes it seems that we have ended up with the worst of a planned economy and the worst of a market...
...five weeks, 13 whites have died in explosions that are believed to have been the work of the A.N.C. Accusing Lesotho of allowing the outlawed organization to give "crash courses in the use of explosives" to militants who flee into the country, Foreign Minister Roelof ("Pik") Botha initiated the slowdown at the border. Lesotho has long angered its neighbor by its open expressions of solidarity with the A.N.C. and its willingness to accept South African refugees...
...sunny economic forecast is clouded, however, by a slowdown in international trade, which grew by only 3% last year, after a robust 9% expansion in 1984. Efforts to boost trade this year could be hurt by growing protectionism. In Congress last week, President Reagan barely defeated a challenge in the Senate Finance Committee, when rebellious legislators fell one vote short of the majority needed to block impending negotiations on free trade with neighboring Canada. Meanwhile, the U.S. and the European Community are holding talks in an effort to resolve an argument over restrictions on American agricultural exports to Spain...
Hyman writes in an e-mail that preventing the slowdown of scientific planning was one of his biggest priorities this past semester. A significant delay could have had serious repercussions for Harvard’s leadership, he writes...