Word: state-run
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...more than 40% since its June 2001 peak. Stock-rigging scandals and lax corporate disclosure have sapped investors' confidence, and Shang must restore their faith. To do so, he will have to fend off government officials who see the market as a vehicle to funnel investors' cash into profitless state-run companies. He will need formidable political skill, even bravery-Shang's predecessor received death threats when his market-oriented reforms drove stock prices down...
Longer lines and their accompanying political football will surface widely next year as officials cut hours at or close libraries, social-services agencies and state administrative offices. In Virginia, Warner moved the opening time at state-run liquor stores to 11 a.m. from 10 a.m. After nine caseworkers were cut from the welfare office in Holyoke, Mass., cases became so backlogged that employees posted a sign asking visitors to BE PATIENT: YOU MIGHT HAVE TO WAIT TO SEE YOUR WORKER...
...unfriendly ways, the country's Internet population has ballooned to 55 million users, transforming chortals into full-fledged media companies. According to a new report from Harvard Law School, the Chinese government regularly denies access to more than 19,000 websites. Yet, in a country still dominated by state-run media, chortals deliver what no one else in China does: edgy, cool?sometimes subversive?content. News, much of it reflecting poorly on the Party, tends to break first on the Net. Chat rooms buzz with risquE flirtations. Dirty jokes abound. And chortals have taken advantage, successfully selling themselves...
...DIED. LORD HASLAM, 79, working class mining engineer who rose to the top of his profession as chairman of state-run monoliths British Coal and British Steel; in Virginia Water, England. Admired by miners for his self-deprecatory manner, Haslam was made a life peer...
...Koizumi swept into office in April 2001 amid a wave of popular optimism. Eighteen months later, none of his mighty promises?such as privatizing bloated state-run companies and slashing wasteful public works projects?have come to pass. Relentless political opposition is partly to blame, as is capricious support from erstwhile allies in his own camp, who can't seem to decide if they need him more than he needs them or vice versa. In the meantime, nonperforming loans at the nation's banks have ballooned to between $420 billion and $1.05 trillion, the stock market flirts with 20-year...