Word: steels
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...industry after industry, from textiles to steel, the leading edge of economic growth has moved from the once dominant U.S. and Western Europe to the fast-rising nations bordering the western Pacific. Since 1960 the gross national product of many Asian countries has grown, after adjusting for inflation, at an average annual pace of nearly 10%, more than twice the rate of the Western economies. To analyze the increasingly important role this region plays in the world economy, TIME has formed a Pacific Board of Economists, bringing together experts from four Asian states, Australia and the U.S. A report...
...seemed that the venerable stadium--the oldest reinforced concrete structure of its kind--was falling apart. "There are parts where it's so corroded that you can hit the steel beams with a hammer and it crumbles," Reardon had said...
...Reardon and several University planners launched a project last fall to repair the disintegrating structure. The University allocated $7 million for a complete renovation. Steel support beams were to be replaced. Acres of concrete slabs were to replace the weather-worn grandstands. A new press box was to be built...
...construction crew worked steadily through the summer, removing concrete and steel, and installing new materials. And by the beginning of the season this fall, they had installed enough seats to hold the crowds at each pre-Yale game...
...economy now churns out one-fifth of the world's industrial production, including more steel and oil than any other country. But its per capita output of goods and services ranks below Italy's and is only half that of the U.S. The Soviet Union's reliance on exports of raw materials and imports of machinery, technology and finished products makes it appear more like a Third World nation than an industrial giant. Weaponry, including tanks, fighter planes and assault rifles, is almost the only manufactured product that is of high enough quality to be sold...