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...calculations of China's potential role in the world, however, rest on two critical assumptions: that Deng's reforms will be continued and broadened, and that they will yield the promised payoff in a relatively short period. Unhappily, neither is at all certain...

Author: /time Magazine | Title: China: Old Wounds Deng Xiaoping | 6/21/2005 | See Source »

...there will have to be some sort of tax enhancement." Possible candidates are a tax on oil imports, which would raise $25 billion over three years at the rate of $5 per bbl., and a business transfer tax, a levy similar to Europe's value-added tax, which would yield $84 billion a year at the rate...

Author: /time Magazine | Title: Into a Daunting New Year | 6/21/2005 | See Source »

...described in Pentagonese worthy of Star Wars. Vanilla flavoring is called for "in such quantities that its presence shall be organoleptically detected, but not to a pronounced degree." Translation: having some taste and smell. Preparation instructions run on for five pages, requiring that "the blended fruitcake batter, sufficient to yield the specified weight, shall then be deposited into cans with liners and disks" and baked at not more than 375° or steamed "to meet the end requirements of 3.5," another section of MIL-F-14499F...

Author: /time Magazine | Title: Fruitycake: A yummy MIL-F-14499F | 6/21/2005 | See Source »

...developed will matter little when a new owner takes over. Worst-case rumors run rampant, and the most talented staffers spend their work hours lining up interviews with other firms. It is not surprising that this decreased morale and productivity contribute to the finding that half of all mergers yield disappointing financial results. Fortunately, firms can take steps to minimize the human costs of acquisition through comprehensive human-resources planning, effective communication programs and carefully chosen techniques to facilitate a smooth postmerger integration. Mitchell Lee Marks Los Angeles...

Author: /time Magazine | Title: Letters: Jan. 13, 1986 | 6/21/2005 | See Source »

...intervention was dubious. It invited a chain of tough questions that only put the Administration more on the defensive at a time when it needs to close partisan ranks: What if the Congress goes along with the White House, but the contras still fail? What if the Sandinistas will yield to their enemies neither at the bargaining table nor on the battlefield? Might the U.S. face an unhappy choice: accepting defeat and humiliation by proxy, or having to come to the rescue of its proxies with its own troops? Then the U.S. could find itself bogged down in a messy...

Author: /time Magazine | Title: Essay: Why Congress Should Approve Contra Aid | 6/21/2005 | See Source »

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