Word: steel
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Dates: during 1980-1989
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...through predetermined spots in the domed concrete. The following aircraft launched their own explosives through the jagged holes: a dozen conventional bombs weighing 2,200 Ibs. each. After a series of shattering roars, the roof collapsed, burying the reactor's radioactive core under hundreds of tons of concrete and steel debris. Fire raged through the site. Two of the attackers, carrying cameras rather than heavy explosives, made a pass to film the scene. Then they streaked for home, ignoring ineffectual puffs of antiaircraft fire and leaving behind the one civilian casualty, one bomb that failed to explode and the mangled...
Proposals to change the law, which will expire at the end of September unless it is renewed, have inspired unprecedented lobbying by a broad coalition of industries that include steel, auto and chemical manufacturers. They claim that it now costs about $25 billion a year to comply with the law and that many of the most expensive requirements result in only marginal air-quality improvements. Said a report last March by the Business Roundtable: "The act in its present form is inefficient, complex and overly costly without adequate recognition given to completing national goals...
Nonetheless, any new state control bothered some board members. Tumlir said industries that were nationalized earlier, including the railways, steel and utilities, now operate free of political pressure and have usually been spurred forward by a drive for greater efficiency and productivity. The pending actions, he said, are mainly for "political control" of the economy...
...actual percentage of truly liberal trade among European countries and between them and the rest of the world has declined. After eliminating the products for which commerce is restricted, not much is left for free trade. The export or import of most agricultural products, textiles, synthetic fibers, clothing, shoes, steel and automobiles are now limited in some way. And restraints in one country beget restraints in another. No sooner had Washington pressured the Japanese into limiting the number of cars shipped to the U.S. than the Europeans, who already control their auto imports from Japan, were demanding still tougher restraints...
Tumlir warns that strong international cartels in steel, oil and some other basic commodities are forming or are effectively in place. These are propping up prices, fueling inflation, restricting trade and limiting growth. This does not do Western capitalism's image much good, or help the credibility of Western governments that sometimes quietly encourage the formation of such cartels. Says Brittan: "What kind of picture do we present to the Soviet Union when we preach about competition while at the same time our great industries are unable to stand up to the impact of the import of sandals from...