Word: checkbooks
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...promised to stop the "checkbook diplomacy" that previous leaders have practiced for decades. Indeed, Taiwan's long-standing practice of wooing small, often poor, international allies with economic aid has occasionally proven embarrassing. In May, a scandal erupted when middlemen commissioned by Taipei to help seduce Papua New Guinea away from Beijing were accused of absconding with $30 million of government funds. Even if, as analysts expect, Taiwan doesn't offer Paraguay the full $71 million, by going, Ma risks being seen as continuing the practice of bribing impoverished nations in Latin America and Africa for their support. "Ma should...
...TIME: You've said you want to end "checkbook diplomacy". But by stopping it you run the risk that some countries will switch their recognition to China. How do you walk that line...
...Harvard does not seem interested in a relationship with the community,” he said. “They just say, ‘We’ll throw some money at this neighborhood, we’ll do some drive-by charity, and throw a checkbook at them...
...trying to do things well is a good thing. I think trying to do everything perfectly is a bad thing. Obviously, if you're a surgeon, you'd better damn well do things perfectly. You better operate perfectly. But it's a little less important that you balance your checkbook every day. So I think there are some things in our lives that we need to have our very, very best effort. But you can't be perfect in everything...
...General Motors Corp., Detroit's two biggest heavyweight players in the industry, both wanted what resembled a dented, but potentially valuable, possession. Ford won the ensuing bidding war, paying $2.5 billion for the coveted car brand. Accelerate ahead 11 years to 2000, and Ford again had its checkbook out, paying $2.7 billion for Land Rover, another luxury British carmaker that had run into some rough road. It also invested many billions more trying to turn both companies around, mainly by upgrading aging plants and developing new product lines. It was a big bet, and it didn...