Word: shanghai
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Dates: during 1980-1989
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...architect's model on display last week at Manhattan's Museum of Modern Art looked rather like an upended radiator. But check the price tag. According to a number of guesstimates, the headquarters skyscraper of the Hongkong and Shanghai Banking Corp., scheduled for completion in 1985, could eventually cost $920 million, making it the most expensive single building in history. At 41 stories, it would cost only a little less than the $1.1 billion for the entire World Trade Center complex, with its twin towers of 110 stories each and its thousands of offices, including those...
Perhaps with that in mind, most lenders try hard to play down the problems and insist that talk of default, let alone bankruptcies, is ill founded. "Foreigners have been borrowing our money since 1902, when we opened our first [overseas] branch in Shanghai." Citicorp Chairman Walter Wriston told TIME. "Our loan losses overseas are not a third of what they are from those good people who borrow our money and speak our language. There are few recorded instances in history of governments, any government, actually getting out of debt. Countries do not fail to exist." The rescheduling of Mexico...
Huang's successor is Wu Xueqian, at 60 one of China's youngest top officials. A native of Shanghai, Wu speaks English, which he learned as a child at a missionary-run school. Although he moved into the foreign ministry only early this year, he is said to be well versed in foreign affairs, particularly concerning the Third World. Wu Xueqian His best credential, perhaps, is his affiliation with Communist Party Chief Hu Yaobang...
...from China. It seems that a few years ago her Nightmare in Badham County-one of those young-girls-from-the-city-up-against-a-violent-small-town TV dramas-was released in Chinese movie theaters and became a monster hit, with more than 2.5 million seeing it in Shanghai alone. So when her 1980 movie, Touched by Love, is released in China next month, she will fly over for the first movie promotion tour ever by a Western actress...
...Peking has seemed unwilling either to give Reagan credit for coming a long way or to cooperate with him in putting the Taiwan issue on the back burner. The Chinese have chosen instead to keep the heat on. Reagan defended his approval of the Shanghai II communiqué against right-wing critics by pointing out that the U.S. promise to reduce arms sales to Taiwan was linked to China's commitment to peaceful resolution of the island's future. The Chinese Communist Party daily Renmin Ribao attacked the President for "completely violating" the spirit of the communiqu...