Hubbard and Kane leave unmentioned that the end of medieval Chinese sea power, upon which they dwell, owed much to the mid-15th-century defeat of a vast Ming army at Tumu by Mongol forces, which helped quicken the decline from which the dynasty never recovered.
The figure now stands at one-third, and the pace of decline is quickening.
The decline continued, quickening after the Second World War; in 1960 the War Office stopped offering premiums on stallions, and many breeders discontinued breeding.
Stocks declined at the onset of trading yesterday, but quickened their descent after the consumer confidence numbers were released.
On Thursday, the government reported that wholesale prices dropped 0.7percentthethe sharpest decline in 19 months, which suggests that deflation is quickening.
The process, however, has been quickened by the rapid decline of industry in the inner city.
Retail sales in Spain have now fallen for 30 successive months, and the decline has quickened since the prime minister, Mariano Rajoy, implemented further austerity measures to bring the budget into line.
In Italy and the Netherlands the pace of decline has quickened; in France prices are now edging down after a brief recovery.European valuations are most stretched in France, by as much as 50% judging by rents and by 35% on the basis of incomes.
The rate of decline then slowed – the average reaching 25% last year – but now looks to be quickening once again, the OECD said.
