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NEWS
By Scott Shane and Scott Shane,Moscow Bureau of The Sun | September 28, 1990
MOSCOW -- Taking a major step away from a market economy, Soviet President Mikhail S. Gorbachev ordered yesterday every state enterprise in the country to sign new contracts with current suppliers and customers through the end of 1991.In effect, the decree freezes existing economic relationships, many of them irrational and inefficient. Enterprises refusing to renew present contracts are threatened with fines of up to 50 percent of the value of the goods involved. It declares "inadmissible" any action by authorities on the local or republican level that disrupt existing economic ties.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | November 7, 2010
Now that the political pundits have had their say on the impact of the election, it's time to consider what it means for investors and pocketbooks. The midterm election results and Republican takeover of the U.S. House improve the chances that the wealthy will be included in any extension of the Bush-era tax cuts expiring at year's end. Banks, big oil and high-end retailers likely will benefit, although green technology not so much. And we can say goodbye to stimulus spending to boost the economy and possibly to emergency jobless benefits for the long-term unemployed.
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NEWS
By Kathy Lally and Kathy Lally,Moscow Bureau of The Sun The New York Times contributed to this article | October 29, 1991
MOSCOW -- Russian President Boris N. Yeltsin began a do-or-die plunge toward a market economy yesterday and said he would take full responsibility for the painful consequences.Mr. Yeltsin told his republic's highest legislature that he will deregulate prices by the end of the year and will move rapidly to privatize businesses and turn land over to individual farmers.Without the measures he has proposed, Mr. Yeltsin warned, "we will doom ourselves to poverty and a state with a history of many centuries to collapse."
NEWS
By Douglas Birch | November 9, 2003
MOSCOW - President Vladimir V. Putin has made it crystal clear that he has no love for Russia's mega-wealthy, and he has worked hard since his election in 2000 to limit their influence. But thanks to the bargain-basement sale of state assets to Kremlin insiders in the 1990s, Russia's super-rich still control a huge slice of their nation's economy. Forbes Magazine estimated this year that there are 17 Russian billionaires, based on public documents. Most likely there are others, living here and abroad, whose wealth is hidden in offshore companies and discreet banks.
NEWS
By Kathy Lally and Kathy Lally,Moscow Bureau of The Sun | January 14, 1992
MOSCOW -- While prices nervously jump up and down here and politicians angrily accuse each other of ruining the country, some Russians have found their own way to a market economy.Nadya, a factory worker in her late 30s, has worked her own miracle. She and her husband and four children have given up their apartment -- renting it for dollars to foreigners willing to pay anything for scarce housing.The dollars can be traded in for enormous amounts of rubles, making the family virtual millionaires on the ruble economy.
NEWS
By Scott Shane and Scott Shane,Moscow Bureau of The Sun | September 14, 1990
MOSCOW -- A team of U.S. chief executives bubbled with enthusiasm yesterday about capitalism coming to the Soviet Union, while the top economic adviser to Soviet President Mikhail S. Gorbachev talked tough about the bankruptcy and unemployment that will come with a market economy."
NEWS
By Frank Langfitt and Frank Langfitt,SUN FOREIGN STAFF | September 19, 1997
LANZHOU, China -- Wu Yonggao faces a hard choice in China's drive toward a market economy.As manager of a huge tractor factory in northwest China, Wu must choose between people and profits.He could raise his state-owned company's meager earnings by cutting a quarter of his bloated work force, but he says he fears what his employees might do."If we lay off 2,000 workers, the factory can run normally," says Wu, an affable 51-year-old engineer who wears a Mao suit. But, he says, "maybe stability is more important."
NEWS
By Christopher Lord | February 15, 2000
PRAGUE -- The accepted wisdom about the transformation of Eastern Europe over the past decade is that the former communist bloc is moving toward democracy and a market economy. These two terms are used together so often that you might get the idea they are an inseparable double act: Abbott and Costello, Laurel and Hardy, Batman and Robin. But each of these concepts has its difficulties in the post-communist world. With democracy, it is relatively easy to diagnose these difficulties: Crooked politicians paid by crooked businessmen are the biggest problem in many countries, and in others the general failure of democratic politics is an even bigger one. But let's look at the other half of this pairing, and see how the market economy is progressing, and what the structural problems are in adapting.
NEWS
By NEW YORK TIMES NEWS SERVICE | August 1, 1999
UNITED NATIONS -- Across many of the post-Communist countries of the former Soviet Union and in parts of Eastern Europe, the ratio of men to women is falling, the United Nations says in a new report, because men in those countries are leading shorter and less healthy lives.These countries are paying "a high social and human cost for their transition to a market economy," the U.N. Development Program says in its report on the former Communist countries of the Soviet Union and the old Soviet bloc.
NEWS
By James J. Mitchell | August 21, 1991
*TC PERESTROIKA, the slogan Soviet President Mikhail Gorbachev used to describe his economic program, means "to rebuild."Nonetheless, Gorbachev's economic policies mostly involved tearing down the country's centralized planning system -- and not replacing it.That's the major reason the Soviet economy has done so poorly in recent years. And that performance is one of the major causes of Gorbachev's removal from power Monday.The Soviet economy "is in a no man's land," says Edward P. Lazear, a senior fellow at the Hoover Institution and an economics professor at the University of Chicago Business School.
NEWS
By Mike Dorning and Mike Dorning,SPECIAL TO THE SUN | May 27, 2003
BAGHDAD, Iraq -- The top U.S. official in Iraq set out a vision yesterday for a fundamental transformation of the country's economy along the lines of a Western-style free market. Although he was short on specifics, civilian administrator L. Paul Bremer III said a major goal of the country's reconstruction would be to shift Iraq away from the kind of state-dominated economies typical of the Arab world. "A free economy and a free people go hand in hand," Bremer said at a news conference in Baghdad.
ENTERTAINMENT
By Larry Williams and By Larry Williams,Sun Staff | January 19, 2003
Have greed, corruption and fear so seriously damaged the great American market system that the nation faces serious long-term economic decline? The evidence supporting that dire possibility has accumulated relentlessly in recent months. The markets -- whose long-term growth have funded millions of comfortable retirements, swelled the wealth of our social institutions and turned an army of union workers into eager capitalists -- have lost a breathtaking $7 trillion in wealth over the last three years.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 26, 2002
A turbulent stock market and a weak economy drove T. Rowe Price Group Inc.'s profit down 14.3 percent in the third quarter, and assets that it manages sank more than 6 percent as stock prices fell. Price made $43.2 million in the third quarter, which ended Sept. 30, compared with $50.4 million in the year-earlier quarter, the company said yesterday. Diluted earnings per share were 34 cents in the quarter, compared with 39 cents in the corresponding period last year. Revenue sank 9.6 percent to $220.
NEWS
By NEW YORK TIMES NEWS SERVICE | January 14, 2001
CRAWFORD, Texas - President-elect George W. Bush said Friday that he planned to review and possibly roll back some of the most ambitious initiatives that President Clinton has taken in recent days, including regulations that put nearly 60 million acres of the nation's forests off limits to development. "I understand the Western mentality, and I want the Western mentality represented in this administration," Bush said of his land-use policies. He emphasized that "we've got lawyers looking at every single issue, every single opportunity" to reverse actions Clinton has taken in the waning weeks of his presidency.
NEWS
By Christopher Lord | February 15, 2000
PRAGUE -- The accepted wisdom about the transformation of Eastern Europe over the past decade is that the former communist bloc is moving toward democracy and a market economy. These two terms are used together so often that you might get the idea they are an inseparable double act: Abbott and Costello, Laurel and Hardy, Batman and Robin. But each of these concepts has its difficulties in the post-communist world. With democracy, it is relatively easy to diagnose these difficulties: Crooked politicians paid by crooked businessmen are the biggest problem in many countries, and in others the general failure of democratic politics is an even bigger one. But let's look at the other half of this pairing, and see how the market economy is progressing, and what the structural problems are in adapting.
NEWS
By Frank Langfitt and Frank Langfitt,SUN FOREIGN STAFF | August 12, 1999
SHENZHEN, China -- At the Shenzhen Safari Park, the competition for worst animal exhibit is fierce.There is the sluggish tiger, probably sedated, which lies chained to a wooden table. Employees strike him with metal rods until he submits to being photographed with visitors.And there is the fetid, green pool where patrons pay about $2 to toss baby ducks into the jaws of Malaysian crocodiles.The boxing bear at least can fight back.Standing before an enthusiastic audience of hundreds, a man wearing boxing gloves lands several jabs to the bear's nose until the animal tosses him to the mat. The bear, overwhelmed by the sweltering southern China heat, collapses on the canvas.
NEWS
By Scott Shane and Scott Shane,Moscow Bureau of The Sun | September 13, 1990
MOSCOW -- Soviet President Mikhail S. Gorbachev said last night that a final plan for the transition to a market economy has at last been completed and that "the whole country" now must determine its fate."
NEWS
April 3, 1995
It's easy to see why President Clinton is so eager to travel to Moscow May 9 to commemorate the 50th anniversary of the World War II Allied victory. Compared to President Boris N. Yeltsin's 6 percent approval rate in the latest Russian poll, Mr. Clinton's modest popularity at home seems downright staggering.Throughout its often sad history, Russia has been a nation of grumblers. A Russian proverb captures this tendency: "Happiness is like a hunch in the back; it is heavy to bear."Many Russians have ample reasons to complain.
NEWS
By NEW YORK TIMES NEWS SERVICE | August 1, 1999
UNITED NATIONS -- Across many of the post-Communist countries of the former Soviet Union and in parts of Eastern Europe, the ratio of men to women is falling, the United Nations says in a new report, because men in those countries are leading shorter and less healthy lives.These countries are paying "a high social and human cost for their transition to a market economy," the U.N. Development Program says in its report on the former Communist countries of the Soviet Union and the old Soviet bloc.
BUSINESS
By J. Leffall | September 6, 1998
LAST WEEK President Clinton visited Moscow and offered support to Russian President Boris N. Yelstin, who critics have blamed for that country's economic and political strife. The beleaguered Russian economy continues to sink as political factions jockey for power and the ruble is diving in one of the worst economic crises in the region since the fall of the Soviet Union. Given the depth of Russia's problems, can the country really thrive as a market-driven economy? If the free market can work there, how long will it take to stabilize the country's financial position?
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