Word: soviet
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Dates: during 1970-1979
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...between the world's most populous country and Asia's principal industrial power. For Peking, the treaty served a dual purpose. It virtually guaranteed vital Japanese support for China's new and vastly ambitious plans for modernization. At the same time, it was a stunning geopolitical victory over the Soviet Union in the strategic northern Pacific region...
Clearly, Peking had prevailed over Moscow in the race for access to Japan's enormous economic and technological resources. Moreover, by establishing strong links with the Japanese, the Chinese had moved forward in their determination to shift the balance of power and isolate the Soviet Union in the Far East. Peking had even succeeded in inserting a clause into the treaty condemning "hegemony"?the favorite Greek pejorative of the Chinese, used to describe Soviet expansionism...
...Soviet influence in Iran: The Shah has given oil to America; natural gas to the Soviet Union; land, forests and some oil to England and other countries. We want all these foreign influences and pressures out of our country...
DIED. Anastas Mikoyan, 82, Soviet politician who amazingly survived nearly 50 years of his nation's purges and upheavals and was briefly President of the U.S.S.R. (1964-65); after a long illness. Son of an Armenian carpenter, Mikoyan studied for the priesthood before joining the Bolsheviks in 1915. One of Stalin's most trusted ministers, Mikoyan became known both as a tough, wily trade negotiator well versed in capitalist business practices and as a skilled organizer who directed the evacuation of Soviet industry during World War II. After Stalin's death in 1953, he allied himself with...
Zooming costs of processing and distribution have created a strange paradox. Higher farm prices instantly bring increases at the grocery checkout, but retail food prices can also go on rising while farm prices drop sharply. Example: the Soviet grain purchase of 1972 and other heavy export demand kicked off a few years of unprecedented farm prosperity. Net farm income more than doubled in three years to an unparalleled $33 billion in 1973, and soaring retail food prices combined with OPEC's oil gouging to produce double-digit inflation. In 1976 and 1977, farm prices broke; farm income shriveled...