Word: pacificism
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The uncertainties swirling around world trade put a damper on the Asian economists' usual optimism. Their forecasts for major Pacific nations:
For the Chinese outlook, TIME's Pacific Board invited its first guest economist from the People's Republic: Huan Xiang, the director general of Peking's Center for International Studies. Huan reported that Deng's reforms have been a tonic for the Chinese economy, but its runaway 12% growth rate...
For the Pacific Community as a whole, the lesson of 1985 is that too much reliance on the U.S. market is risky. "The U.S. cannot continue to be the only engine of growth in the world economy," said Krause. The economists agreed that the Asian nations will have to develop...
Despite the difficulties of 1985, TIME's economists agreed that the year could be profitable if it encourages the Pacific countries to re-examine their economic strategies. Even the threat of Western import barriers could be helpful if it forces countries to find different trading partners and new ways to...
The impact of Chinese artists on the Australian art scene is already being felt from within. Sydney gallery director Gene Sherman describes this world as "a very delicate ecosystem, both in terms of the practitioners, and also in terms of people like us." While artists like Guan Wei, Ah Xian...