Word: asia
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Dates: during 1990-1999
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When TIME published its 14-page report in Asia last week, it touched off shock waves. Suharto denies he has any bank deposits abroad and insists that his wealth amounts to just 46.9 acres of land, plus $2.4 million in savings, and he went on television on Friday to tell the nation he has done nothing wrong. His lawyers informed TIME that he intended to file suit for "false" charges that "defamed and humiliated" him. But an avid public savored details confirming suspicions of corruption and private profiteering that have swirled around the Suhartos for decades. On Friday, protesters demanding...
...writer is the former East Asia editor for the Times of London...
...fraternity say that some portion of Rubin's success can be attributed to the man who now replaces him. In part because Rubin dislikes travel, it was often Summers who was dispatched to hot spots to prescribe tough fiscal and monetary medicine. "He's been the point man in Asia," says Kobsak Chutikul, director general of economic affairs at Thailand's Foreign Ministry, "pushing a lot of very sensitive and controversial policy measures," including stiff interest rates...
...that Asia appears to be in fragile recovery, much of that criticism has turned to praise, and Summers has been receiving his share of the credit. Lim Chang Yuel, a former South Korean Deputy Prime Minister, has vivid memories of late 1997, when he and Summers often conferred until well after midnight seeking a solution to South Korea's economic woes. "I was surprised to see how energetic and hardworking he was. He was like a fireman putting out fires not only in Korea but throughout Asia...
...sense of resentment and impotence in China at the predominance of U.S. power in world affairs. On his way to the historic meeting with Mao in 1972, Nixon jotted down in his diary, "What they want: 1. Build up their world credentials. 2. Taiwan. 3. Get U.S. out of Asia." A quarter-century later, China is still struggling with these goals, and the U.S. is the omnipresent bogeyman, criticizing China's political regime, providing military support to Taiwan and maintaining 80,000 troops in Japan and South Korea. Last week's demonstrators accepted as a given that...