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...economic. Taiwan is today a mini-industrial power. Although the island's population-16.6 million-is only one-fiftieth of mainland China's, its trade with the U.S. is 14 times greater than that of its huge neighbor-nearly $5 billion last year. Taiwan's robust growth rate-more than 10% in most of the years since the 1960s-has boosted its G.N.P. to just over $17 billion. During the worldwide recession of 1974-75, inflation whirled up to a 40% annual rate for a while, but the regime has since brought that down to less than...

Author: /time Magazine | Title: The World: Visa Time Again on Taiwan | 8/29/1977 | See Source »

...been a poor year for pessimism. Their outlook chilled by the frigid winter's possible impact on the recovery, many economists scaled down their growth forecasts for the year's first quarter. What happened? Business expanded at a robust rate. In the second quarter, when President Carter dropped his $50 tax rebate stimulus proposal, some seers again lowered their sights-and again were proved wrong. Last week the Commerce Department reported that in the three months ending in June, the nation's real gross national product grew at a healthy annual rate of 6.4%. That compares favorably...

Author: /time Magazine | Title: OUTLOOK: Slower, but No 'Pause' | 8/1/1977 | See Source »

Though it seems robust, Hollywood has not escaped the results of lowered expectations. The five major studios this year will each release only eleven to 17 films, about half he number each would have produced a decade ago. Money is not the problem-film budgets have doubled since 1973. George Lucas' Star Wars and soon-to-be released extravaganzas by Francis Coppola and Steven Spielberg have a combined price tag of more than $63 million. Unfortunately, the studios' reliance on blockbuster epics means that fewer experimental movies are being made. The state's once sassy underground press...

Author: /time Magazine | Title: Time Essay: What Ever Happened to California? | 7/18/1977 | See Source »

...controversy that swirled around MacArthur when he lived has mostly died now. He has passed into history, and it would have been good to have a robust life of him: something that really attacked its subject, taking a strong point of view about him - whether for or against would not have really mattered. The Great Commander never operated in a climate of caution, and there is no good reason why this movie should. Something of the spirit of Patton is what is required. What we get instead is the plodding tone of an official biography...

Author: /time Magazine | Title: Cinema: Old Soldier's Return | 7/4/1977 | See Source »

...shoulders that she cannot walk without crutches. About the same time, a neighbor's son, 6, develops several large reddish rings on his skin. His temperature rises, and within days a swelling in the boy's left knee leaves him virtually immobilized. A short distance away, a robust man, 26, suddenly finds himself battling a nagging sore throat, a stiff neck and total fatigue. Before long, he feels excruciating aches in his shoulders, wrists, elbows, fingers and toes...

Author: /time Magazine | Title: Sport: Diagnosing Lyme's Malady | 6/13/1977 | See Source »

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