Word: aol
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Dates: during 2000-2009
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...legend chairman Liu Chuanzhi prepared to sign last week's Internet deal with AOL Time Warner, he jokingly made a show of trembling hands to confidants. His gesture had a serious undertone. The $200 million agreement between these two strong-willed partners makes both sides nervous. Eighteen months in the making, it links behemoth AOL, the most visible symbol of American new media prowess, with Legend, a government-nurtured start-up that has grown to become China's most successful computer maker...
...joined the World Trade Organization, this deal can be viewed as a WTO walk-up, a signal of what life might be like once China becomes a member. Upon entry, China has agreed to open its Internet market to foreign participation, making possible previously unthinkable arrangements like the AOL-Legend link. And for the communist officials who run China, you can't get much more foreign than AOL Time Warner, a $40 billion company with a broad array of interests in the Internet, movies, cable and publications?none of which hews to a government line. "This is a classic example...
...works, the venture could introduce a new Internet business model to China, one that combines content with services like chat and instant messaging, as well as online access. For AOL, which already has a presence in 17 countries, the venture is its most ambitious in Asia. China is potentially the world's largest Internet market, but so far Net companies aren't finding it profitable. The partners haven't ruled out buying a controlling stake in one of the country's troubled portals. But for now, the idea is that Legend's PCs will be sold Internet-ready...
TIME.com ON AOL To see an exclusive photo essay on Mexican President Vicente Fox, log on and go to time.com/fox
...take part in a town-hall meeting about the border at 3:00 p.m. E.T. on Tuesday, June 5, go to Keyword: New Frontier, or send your questions to AOL screen-name AskFrontiers during the meeting