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Life has grown sweeter in Longzhao. Women who once made $10 a month can now take home $30 to $40, while their husbands earn similar paychecks building houses and factories, thanks to the construction boom, or working at jobs once limited to large collectives, like raising pigs and ducks. Liao...

Author: /time Magazine | Title: A Country Changes Course: Sichuan, China | 6/21/2005 | See Source »

The Fed's ruling, publicly announced to an overflow crowd of lawyers and lobbyists, stipulates that in certain cases junk bonds may represent no more than 50% of a takeover bid. To make an acquisition, shell companies--firms with no real assets--will be forced to pay half of the...

Author: /time Magazine | Title: Scrap over Junk: Restricting dubious bonds | 6/21/2005 | See Source »

A hallmark of García's program has been his vigorous attack on inefficiency and sloth. In recent weeks he has been engaged in a running argument with Peru's civil servants, who have resisted his effort to curb the five-hour workdays that have become traditional during the hot...

Author: /time Magazine | Title: South America: Flair, Firmness And Ideas | 6/21/2005 | See Source »

"It can be just awful," Loudilla Johnson told a shaken guest a lifetime later. "It sucks the shingles right off one side of the house." Kay Johnson volunteered that the wind recently removed two railroad engines from a nearby track. Loretta Johnson said it once blew her from the yard...

Author: /time Magazine | Title: In Colorado: A Great Fondness for Country Tunes | 6/21/2005 | See Source »

It started innocuously enough when Air Force General Frank Vargas Pazos, 51, chief of Ecuador's joint armed forces command, complained that he had not been informed of a practice alert at the Defense Ministry in Quito. The impetuous Vargas, who is nicknamed "Loco," quickly found himself in a quarrel...

Author: /time Magazine | Title: Ecuador: Twice Foiled | 6/21/2005 | See Source »

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