Word: deng
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...DENG'S DEBT...
TIME's China watchers had been planning a special report on the legacy of Deng Xiaoping for months, but it wasn't until 10 p.m. Wednesday--early morning in the U.S.--that Beijing bureau chief Jaime FlorCruz got a tip that China's ailing leader might be dead. As FlorCruz raced to the TIME bureau, driving past Tiananmen Square and the residences of the top Communist Party officials, he could tell something was amiss; police at each intersection were waving motorists to the side so that black cars with flashing red lights could enter Zhongnanhai, the party headquarters. Within hours...
...this in the asset column of China's late Deputy Premier Deng Xiaoping: his market reforms helped make China one of America's biggest creditors. Awash in dollars from exports, China now buys more U.S. Treasuries than even the Japanese--$12.1 billion in U.S. notes and bonds through the first nine months of 1996,vs. the $11.6 billion Japan purchased. China owns more than $43 billion of U.S. Treasury debt, the world's fifth largest hoard, and moving...
TIME has long had a special relationship with Deng--or, as we used to spell it, Teng. He was twice named Man of the Year--a distinction shared by a select group of world leaders that includes Churchill, Eisenhower and Gorbachev. When Deng decided to visit the U.S. in 1979, he gave TIME his first interview with a Western magazine...
...Deng might have seemed an unlikely choice as Man of the Year for 1978. He had only recently been "rehabilitated" in one of the frequent purges of Mao's later years. But we recognized even then that as the chief architect of the so-called Four Modernizations, Deng was destined to play a key role in helping propel China into the modern world. A few weeks later, we were rewarded for our prescience with that first exclusive interview--a 30-minute audience that stretched into 80 minutes and formed the basis of another Deng cover story...