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...politics in the Third World. That means Perez, who had to cope with bloody riots sparked by price increases in February, is at least spared having to worry about some Third World minion of the Kremlin accusing him of socialist heresy. The real perestroika makes Perez's version look tame -- and more promising -- by comparison...

Author: /time Magazine | Title: America: Abroad Pereztroika | 10/23/1989 | See Source »

Since early this summer, the finance ministers of the seven leading industrial countries have seemed almost powerless to tame the surging U.S. dollar. They agreed the currency was too high and, in the long run, threatened to aggravate the U.S. trade deficit. But their desultory attempts to push down the greenback prompted suspicion that the G-7 group had lost its clout. Last week the finance ministers made a concerted effort to bring the dollar down by intervening in the currency markets. The U.S. currency fell nearly 5% against the yen and about 4% against the deutsche mark by week...

Author: /time Magazine | Title: THE DOLLAR This Time We Really Mean It | 10/9/1989 | See Source »

Historic moments are often tame and unspontaneous affairs, played out in marble halls amid the flutter of flags and the trumpeting of national anthems. Pen is put to treaty, palm grasps palm in a handshake of newfound understanding and -- pop! -- a burst of flashbulbs records the moment for posterity. But as the cold war winds down, history is offering up startling new images that bear none of the hallmarks of traditional statesmanship. Last week history was made amid the flutter of colorful balloons, the sputtering of rattletrap Trabants and Wartburgs and -- pop! -- the burst of champagne corks...

Author: /time Magazine | Title: Refugees The Great Escape | 9/25/1989 | See Source »

...operates at a loss. In order to finance the massive fiscal deficits that inevitably result, the government simply orders the Central Bank, which lacks the autonomy to determine the money supply that our Federal Reserve has, to print more money. The inflationary tiger, once unleashed, proves awfully tough to tame...

Author: By Andrew J. Bates, | Title: Can Argentina Make It Back? | 9/19/1989 | See Source »

...written arrestingly about subjects as mundane as oranges and as momentous as high-energy physics and the geologic forces that shape our planet. The three pieces that constitute his 20th book, Atchafalaya, Cooling the Lava and Los Angeles Against the Mountains, deal with the power of determined people to tame water, fire and earth...

Author: /time Magazine | Title: Books: Elementals | 8/7/1989 | See Source »

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