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...down on the country's banks, flooding them with write-offs for bad loans. Defaults of a comparable magnitude in Japan's $4.2 trillion economy, which is nearly 10 times the size of Korea's, could turn the so-called Asian Contagion into a worldwide pandemic that could even threaten the health of the soundest peacetime expansion in U.S. history...

Author: /time Magazine | Title: THE LAST, BEST HOPE | 12/22/1997 | See Source »

...religious right's Whitehead and his Rutherford Institute have taken up Paula Jones' cause! This illustrates the biggest weakness of Protestant morality: focusing on sexual mores instead of the questionable actions of vested interests that threaten the common good. Nothing worthwhile can come from this case. If Jones wins, other opportunists will believe the court system will reward them too. And win or lose, the American presidency will be damaged. DAVID COWARD Pensacola...

Author: /time Magazine | Title: Letters: Dec. 15, 1997 | 12/15/1997 | See Source »

...Gregory Mankiw. "But in Asia the prescription is far less clear." Kevin Watkins of Oxfam--an Oxford-based, nongovernment development agency--says the IMF may shortcut Asia's recent progress. "What differentiates East Asia has been its ability to create growth with equity," he says. "Now the IMF programs threaten to break that link. You may have growth, but with continued poverty...

Author: /time Magazine | Title: IMF TO THE RESCUE | 12/8/1997 | See Source »

...country. That would cause China's leadership to rattle its sabers at the island, as it did in 1996, almost certainly drawing the U.S. into a conflict. Next shoe: Beijing, which holds about $100 billion in U.S. Treasury securities, largely as a result of its huge trade surplus, could threaten to unload them, causing a major downturn in U.S. financial markets...

Author: /time Magazine | Title: WORST-CASE SCENARIOS | 12/8/1997 | See Source »

...past discussion, some House masters have mentioned concerns that giving a greater number of students access to the Houses could threaten residents' security...

Author: By Caitlin E. Anderson, CRIMSON STAFF WRITER | Title: Masters Propose Greater Keycard Access in Houses | 11/20/1997 | See Source »

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