Word: steels
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...ship Atlantis II to the bottom of the frigid North Atlantic. It was the first of twelve dives planned for the current mission, designed to survey the Titanic while testing new imaging equipment. As they neared the sea floor, Ballard said, "we came in on a wall of black steel. It seemed endless in all directions." Alvin skirted the Titanic's knife-edge bow, where the great liner's name was obscured by "rivers of rust," then explored the foredeck and port side, where the scientists spotted portholes, the glass unbroken. They saw where the Titanic had split apart, just...
...major economies are showing unmistakable signs of stress and strain. The drop in oil prices in the U.S. has stunned energy-producing regions and hurt a wide range of industries, from real estate to banking. Last week alone brought several seismic shocks: the bankruptcy filing by LTV, a major steel producer; the failure of First National Bank of Oklahoma City, a large oil-patch bank; and the $640 million loss reported by BankAmerica, which is saddled with numerous bad energy loans (see ECONOMY & BUSINESS). The dislocations caused by plunging oil prices have become a drag on the entire U.S. economy...
...private sector a virtual arm of the government. They thus became used to the state's telling the private sector what to produce, and this continued after the war. When the fighting stopped, most of Europe lay in ruins, and the government began directing postwar reconstruction. The British steel industry and Renault, France's largest automaker, were among the ventures nationalized...
...China's trade was with Soviet bloc countries, but now 80% of it is with the non-Communist world, especially the U.S. and such Asian neighbors as Japan and Hong Kong. China has become a significant exporter of oil, textiles, clothing and spices, while importing such goods as steel, factory equipment and heavy-duty construction machinery...
...most significant architect was an apostate from the older generation. Otto Wagner was, surely, the world's first great modernist. The MOMA show includes a fine display of his masterpiece, the steel-and-glass interior of the Postal Savings Bank (1904-06). It was an architectural space exuberantly of its age, right on the boundary between the classicized past and the industrialized future...