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...economy is also especially vulnerable to shock waves from overseas. A panic in Japan's superheated real estate market would shake Japanese lenders and help trigger a global slump. So could the chaos that would ensue if the Soviet Union's restive republics plunge that country into civil...

Author: /time Magazine | Title: How Long Will It Last? | 12/31/1990 | See Source »

...referendum be held on their turf. Most ominous, Gorbachev announced that he might introduce a "state of emergency or presidential rule" in areas where the "situation becomes especially tense and there is a serious threat to the state and to people's well-being." That might have been the trigger for Shevardnadze's resignation. One of the first targets could be his home republic of Georgia, where ethnic animosities are boiling high and a newly elected noncommunist, nationalist government appears to be on a collision course with the central government...

Author: /time Magazine | Title: Soviet Union Next: A Crackdown - Or a Breakdown? | 12/31/1990 | See Source »

Czechoslovakia's brief ethnic feud also illustrated the hair-trigger sensitivities that vex Eastern Europe. Slovaks, who account for a third of the nation's 15 million people, have long nursed a sense of victimization. Wary of Czech domination, Slovak leaders hinted at secession unless Prague agreed to extensive decentralization of core institutions, from the national bank to oil pipelines to management of minority affairs...

Author: /time Magazine | Title: Eastern Europe Populism on the March | 12/24/1990 | See Source »

There is some colorful conniving: who'd have guessed that an international cartel fatally poisoned Pope John Paul I? But G3 never persuades one of the urgency of its maxim that "finance is a gun, and politics is knowing when to pull the trigger." With all its boardroom bickering, the plot is a gun that shoots mostly blanks. G3 is too faithful to the deliberate pacing of the first two films: the slow walking into a dark room, the silence surrounding the threats. For two hours the movie labors up the winding path of its story, wheezing like...

Author: /time Magazine | Title: Cinema: Schemes And Dreams for Christmas | 12/24/1990 | See Source »

...having arranged the hit so he could take over the family. Police contend that Castellano did not trust Gotti and was grooming Thomas Bilotti, his bodyguard, as the next head of the family. (Bilotti too was killed in the ambush.) While Gotti is not accused of pulling a trigger, investigators say they have a witness who can place him near the shooting scene. The prosecutors are also expected to produce an informer, convicted Philadelphia mobster Philip Leonetti, to testify that Gotti had bragged about setting up Castellano's execution...

Author: /time Magazine | Title: Still The Teflon Don? | 12/24/1990 | See Source »

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