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...promised a "Burmese Way to Socialism" -- a strange mix of Buddhism, socialism and isolationism -- but instead allowed a potentially robust economy to drift on a joyless ride down a Burmese road to ruin. Once Asia's premier rice exporter and a country rich in oil, grain, gems and timber, Burma slipped into abject impoverishment, thanks to haphazard central planning, mismanagement and an unbending policy of self-sufficiency. While resources were devoted to a four-decade struggle with tribal guerrilla armies around the country, annual per capita income sank from $670 in 1960 to $190 in 1987, according to the World...

Author: /time Magazine | Title: Burma Under Bloody Siege | 8/22/1988 | See Source »

...current military strength of the Khmer Rouge, largest of the three guerrilla groups (the others are Sihanouk's Nationalist Army and former Premier Son Sann's Khmer People's National Liberation Front), is in dispute. Soviet and Vietnamese military advisers insist that the Kampuchean armed forces can contain the threat, but Western analysts have their doubts. Kampuchea's 30,000-man regular army and the 100,000 irregulars assigned to defend their country are largely untested. Many Kampucheans fear that once the Vietnamese draw down their forces, the Khmer Rouge may succeed in grabbing power once more...

Author: /time Magazine | Title: Kampuchea Where Fear and Silence Reign | 8/8/1988 | See Source »

With Japan riding high as a premier economic power, no company stands a better chance of dominating global finance than Nomura. The company, building on a powerful domestic base, is a behemoth. Its assets ($372 billion) surpass those of Citicorp ($204 billion) and Merrill Lynch ($55 billion) combined. Nomura's 1987 profits ($2 billion) were almost four times those of American Express. And as Japan converts manufacturing muscle into financial might, the securities giant has passed Toyota (1987 earnings: $1.7 billion) to become the country's most profitable company. No wonder Nomura sparks respect in its competitors, inspires hard work...

Author: /time Magazine | Title: Special Report: Japan's Nomura: Yen Power Goes Global | 8/8/1988 | See Source »

Although the Delaware will never regain its precolonial purity, the estuary has been vastly improved. Shad, which disappeared 60 years ago, are back, along with 33 other species of fish that had virtually vanished. Estuary Expert Richard Albert calls the Delaware "one of the premier pollution- control success stories...

Author: /time Magazine | Title: Environment: The Dirty Seas | 8/1/1988 | See Source »

...matter less consequential but perhaps equally indicative, in your ten years as Governor you have declined all invitations to visit Hanscom Air Force Base, the premier military facility in Massachusetts and the home of the Air Force's Electronic Systems Division. Four ESD commanders have invited you. Accepting such invitations is the normal political practice, and other Massachusetts officials have regularly done so. Your unwillingness to visit Hanscom has led many of us to wonder whether you are viscerally antimilitary...

Author: /time Magazine | Title: The Democrats Your Record Is Not Reassuring | 8/1/1988 | See Source »

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