Word: hong
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Dates: during 1950-1959
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...report, bolstered by additional material from TIME'S European and U.S. bureaus, brought into focus a new American-type capitalism that around the world is replacing the old system of cartels and feudal wealth. The Tokyo bureau added the story of Japan's striking progress, while the Hong Kong bureau analyzed the trials, tribulations and triumphs of Southeast Asia. As other reports poured in from Latin America, Africa, the Middle East, and TIME'S domestic bureaus, they added up to a year in which free-enterprise capitalism was on the march throughout the world-a thrusting, competitive...
Since then, according to refugees from Sinkiang who have made it to Hong Kong, Moslem resistance has flickered across Sinkiang. In the Altai mountains, tribesmen fought Red troops for two months. From Kara Kash came word of a 23-year-old Moslem woman called Pashakhan, who, waving a star-and-crescent flag, led a crowd from a mosque to sack the local police station and to fight on with captured weapons for two weeks before being taken and shot...
...Hard Workers. Britain's entry into the Orient brought new swarms of Chinese to Nanyang as indentured coolies to work in tin mines and on plantations, to load ships and build roads and carry burdens. Each new trading city-Penang, Singapore, Malacca, Hong Kong-became heavily Chinese. As agents and middlemen, the ubiquitous Chinese followed the Dutch troops into Sumatra, Borneo and Celebes, the British into Burma, the French into Indo-China. Even in Thailand, which never became a European colony, the Chinese were advisers to the king, and controlled the nation's commerce...
...buyers bought up everything they could get their hands on, but they showed a penchant for luxury goods, ranging from Tiffany & Co.'s gold martini mixer ($2,000) and Black, Starr & Gorham's gold tea set ($30,000) to Lord & Taylor's Hong Kong silk lounging pajamas ($79.95) and gold-plated toothbrushes ($5). "Anything with a gimmick sells very well," said Dominic Tampone, president of Manhattan's Hammacher Schlemmer: "This always happens in a high economy. You give a person something he wouldn't normally buy for himself...
Discipline. To see what could be done, U.S. Assistant Secretary of Commerce Henry Kearns journeyed to Hong Kong fortnight ago. Said Kearns to a meeting of Hong Kong garment leaders for the second time in a year: "Don't reduce your exports. Just don't ship unduly heavy quantities which would wreck a specific American industry." To many a successful Hong Kong Chinese garmentmaker, voluntary curbs seem to be a high price to pay for a success built with little U.S. aid in the face of stiff Japanese and European competition. Many are balking, though Lee argues that...