Sunday, January 20, 1974. First flight of the F-16.

First flight of the F-16.

YF-16, the aircraft before official adoption, and YF-17, a Northrup aircraft that did not gain acceptance.

It was an accident.  During high speed ground test a horizontal stabilizer was damaged and the test pilot took the aircraft off due to the severe oscillations it was experiencing. 

One of the greatest fighter aircraft of all time, it remains in production, although not for the U.S.

English professional soccer was played for the first time in history on a Sunday.

Argentina's People's Revolutionary Army attacked the headquarters of the 10th Armored Cavalry Regiment in Azul in the Buenos Aires province. President Juan Perón vowed "to annihilate as soon as possible this criminal terrorism" later that same day.

The Dutch oil tanker Kopionella rescued 23 South Vietnamese sailors who had survived the Chinese sinking of the South Vietnamese Nhat Tao during the Battle of the Paracel Islands.

On the same day, the Chinese took 47 ARVN soldiers and one U.S. advisor prisoner, although they were later be released.

Saturday, January 19, 1974. The Battle of the Paracel Islands.

The People's Republic of China and the Republic of South Vietnam engaged in combat, mostly naval, but some ground, over the Paracel Islands. The events had been preceded by maneuvers and landings the prior few days after South Vietnam found the Chinese had landed on an island and had armed vessels nearby.

The following day, January 20, the Chinese would prevail.

The South Vietnamese defeat would later be regarded as a Vietnamese one in general as North Vietnam also did not welcome the Chinese incursion and would, post Vietnam War, demand that the Chinese depart, which they have not.  North Vietnam, upon taking over the entire country, praised the efforts of the South Vietnamese troops who attempted to defend the islands.

The People's Republic of China, Republic of China (Taiwan) and Vietnam, all claim the islands

The French government floated the franc, which would continue for six months, in order to maintain its value.