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Where's Japan? As the world's corporate giants scramble for contracts to raise a new Kuwait, representatives of the mightiest trading nation on earth have been sitting out the action. Major Japanese companies have not even participated in the bidding for reconstruction work in the devastated gulf country. Government leaders have warned Japanese firms against joining the rush for jobs lest they be seen as kajiba dorobo, or thieves who steal from a fire. "We won't take any initiative," says an official of a Japanese engineering company. "If Kuwait approaches...

Author: /time Magazine | Title: The Superpower That Isn't There | 3/11/1991 | See Source »

BRAHMS: SONATA NO. 3; INTERMEZZI, OP. 117 (Sony Classical). Emanuel Ax whittles Brahms' mightiest sonata down to size in a performance that combines majesty with might. Meanwhile, the mournful, enigmatic intermezzos of the composer's later years get tender, loving care...

Author: /time Magazine | Title: Critics Voices: Nov. 12, 1990 | 11/12/1990 | See Source »

...Iraqi blitz prompted Washington and Moscow to act in stunning unanimity, each abhorring the raid and demanding, in an unprecedented joint statement, that the invaders retreat. That position was also endorsed by the United Nations Security Council. While all parties were clearly loath to take on the mightiest army in the Arab world -- a force of 1 million fighting men -- the rare convergence of views raised the possibility that Iraq's expansionism can somehow be contained...

Author: /time Magazine | Title: Iraq's Power Grab | 8/13/1990 | See Source »

...which have rich petroleum reserves and tend to favor lower prices as a way of discouraging Western countries from pursuing alternative energy sources. But Iraq desperately needs higher prices, and Saddam reckoned he had something more powerful than the Saudis' economic clout with which to frighten the renegades: the mightiest army in the Arab world...

Author: /time Magazine | Title: The Crude Enforcer | 8/6/1990 | See Source »

...bottom line is that America is an ebbing power in the banking world, with its mightiest institutions surpassed by behemoths in Japan and Europe. U.S. banks have simply been outmuscled abroad by their bigger, better- capitalized foreign competitors, like Sumitomo and Fuji of Japan, the Deutsche and Dresdner banks of Germany and such other rivals as Credit Lyonnais of France, Midland of Britain and Union Bank of Switzerland. A glance at a list of the world's largest banks gives a clear view of the winners and losers in the bruising battle. Of the world's 20 top banks...

Author: /time Magazine | Title: Bareknuckle Banking | 7/30/1990 | See Source »

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