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...speaks at length without looking at notes, but takes advantage of translation time to glance down at a tidy stack of briefing papers, underlined with red, blue, yellow and green felt-tip markers. As Gorbachev was answering a question on Israel during his Paris press conference, one adviser half rose, cupped a hand to his ear to hear what was said, then sat down with a satisfied look when the boss had finished. The Soviet leader will presumably use his staff in a similar way at the summit, referring to their briefing papers for guidance but summarizing the Soviet position...

Author: /time Magazine | Title: Those Who Have Gorbachev's Ear | 4/18/2005 | See Source »

Charles and Diana ("She's a bag of energy," said Royal Press Secretary Michael Shea) rose early the next morning to attend a service at the Washington Cathedral. Charles read Chapter 35 from Isaiah ("Say to them that are of a fearful heart, Be strong, fear not") and was given a kneeling pillow at his pew that was hand needlepointed by his grandmother the Queen Mum and donated to the cathedral as a war memorial...

Author: /time Magazine | Title: The Royal Couple Drops In | 4/18/2005 | See Source »

...ornate state dining hall of Malacañnang Palace, the Rev. Jerry Falwell rose to salute President Ferdinand Marcos for standing tall against the specter of Communism, a compliment the right-wing U.S. evangelist had a few weeks earlier bestowed on South Africa's State President P.W. Botha. "Had it not been for the Marcos family," Falwell told an audience that included the First Couple, government supporters and officials, "the chances are that the freedoms you enjoy today would not be here." Falwell later shook his finger at the Reagan Administration for "bellyaching" about the need for financial and military reform...

Author: /time Magazine | Title: The Philippines: Recriminations and Questions | 4/18/2005 | See Source »

Many conference participants supported a proposal for so-called monetary target zones. This would mean that each country's currency would be allowed to rise and fall only within a predetermined range. If the dollar, yen or other money rose or fell too far, central banks would intervene in foreign-exchange markets and stabilize the rate. Some European currencies are already bound by such a regime: the European Monetary System...

Author: /time Magazine | Title: Fix It Before It's Broke | 4/18/2005 | See Source »

...rising, interest rates are low, and stores are flooded with a vast array of inexpensive products - from $A12 cordless drills to $A90 DVD players - many of them imported from China. China makes half the world's cameras and one-third of all TVs. In 2004, imports from China rose by almost 26% to $A17.9 billion, almost all of it manufactured goods (such as clothing, computers, toys and sporting goods, telecommunications equipment and furniture). Last year, Australia exported to China a mountain of wool and cotton. Ships carrying a tiny fraction of what China's clothing factories can produce brought back...

Author: /time Magazine | Title: The Quiet Revolution | 4/18/2005 | See Source »

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