Word: thailand
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Dates: during 1990-1999
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...Muslim populations and strong governments, and is gleefully exploiting the Asian crisis as an opportunity to tear down the region's governments and replace them with toadies. In Mahathir's play, the pound of flesh has already been torn away. Like its neighbors, Malaysia lies bleeding, but when Korea, Thailand and Indonesia eagerly gulped down $150 billion in IMF bailout loans, Mahathir wanted none of the West's medicine. Shylock, after all, was no healer...
...given their venture an explosive $8 billion valuation. The real economy exists in the thousands--even tens of thousands--of sites that together with Yahoo are remaking the face of global commerce. Want to snag a $900 suit for $150? Try countryroadfashions.com (but be warned: they're based in Thailand, so you'll have to take your own measurements). Looking for that hard-to-find anthropology book? Amazon.com is your best bet. Yearn to have your weekly groceries delivered to your door? Peapod.com exists to make your grocery shopping easier--and it even lets you specify how ripe you like...
...aides as they wrapped up their China extravaganza. Instead, while Beijing's mistakes are all but forgiven these days, Tokyo is regarded as the regional deadbeat. Treasury Secretary Robert Rubin, who pronounced China "an island of stability" in Asia's economic crisis, reminded people in Malaysia, Thailand and South Korea that he was "deeply, deeply" concerned about the value of the yen. Other officials were tossing off background critiques of Japan (whose Finance Minister, Hikaru Matsunaga, has been referred to as Minister for the Destruction of the World Economy) and warning that if its leaders didn't take "decisive action...
...first approved for wide-scale human trials. The new vaccine, AIDSVAX, developed by a company based in San Francisco called VaxGen, contains snippets of two strains of HIV yet has proved safe. It will be tested on healthy but high-risk subjects--5,000 North Americans and then, if Thailand approves, 2,500 Thais. The trials will take at least four years to complete...
...Asia rolled into Russia last week, shaking the already wobbly economy and its twitchy investors. A spate of panic selling sent the stock market plunging and plunging, and it ended the week worth half as much as it was a year ago. Even before the bubble popped in Thailand, South Korea and Indonesia, Boris Yeltsin's government was living dangerously. It was juggling $150 billion in foreign debt, running huge budget deficits and resorting to a kind of pyramid scheme in which it was selling new treasury bills to pay interest on those it had sold earlier...