Word: techs
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Dates: during 1990-1999
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Indonesia's problems are so difficult to solve that not even an extraordinarily clever politician bolstered by overwhelming public support would find it easy to take over. And Habibie, a man who enjoys Beethoven, motorcycles and tomes on high-tech industrial policy, seems the least likely candidate. He has no political base, nor can he necessarily count on the long-term backing of the powerful military. Economists and stock analysts around Asia question Habibie's ability to bring sensible change to Indonesia's choking economy--his big-spending statist policies are anathema to the International Monetary Fund--and politicians forecast...
...bright engineer foundered when confronted with practical policy decisions. Habibie boasted of being able to "leapfrog" low-skill industries, which would have given needed employment to the country's vast mass of unskilled laborers, and move straight into expensive high-tech ventures. The billions of dollars of public money he spent on his strategic companies did little to advance industrial development. His most extravagant pet project, a $2 billion attempt to build an indigenous aircraft, the propeller-driven N-250, was deprived of state funding as a condition of IMF assistance...
JOSHUA QUITTNER, our tech columnist, has been an editor of our online TIME Daily time.com) He joined the magazine in 1994 after more than a decade as a newspaper reporter. He and his wife Michelle Slatalla have collaborated on three young, computer-savvy daughters as well as a new book, Speeding the Net: The Inside Story of Netscape and How It Challenged Microsoft. Quittner has a story on Netscape accompanying our Microsoft coverage this week, in addition to his Personal Time column showing readers how they can fight junk e-mail more effectively than can Congress...
Nuclear crises don't usually come as complete surprises. Nations hungry to acquire the power of mass death will steal and cheat and lie to achieve their ambition, but millions are spent on high-tech spying to divine the telltale signs well before any nuclear adventurism occurs. Not this time. Before firing off five nuclear explosions last week, India deliberately concealed its specific test plans and misled the rest of the world. But no one was paying attention anyway, even when the signs of India's intentions were there to be read. The shock runs up our spine because...
Parse the language and it means many banks have a new sideline: gambling. "Derivatives have turned the financial markets into a hi-tech, international, 24-hour casino," notes Richard Thomson, a former merchant banker and author of a book published in London, Apocalypse Roulette: The Lethal World of Derivatives. "Right now you have a small number of banks sharing a very large risk. But this could turn out to be a serious problem if these banks are in the wrong place at the wrong time...