ed our nation in the past。 They plague us still。 They fill the fanaticism of terror and they torment the lives of millions in fractured nations all around the world。 These obsessions crippled both those who hate and； of course； those who are hated； robbing both of what they might become。 We can not； we will not succumb to the dark impulses that lurk in the far regions of the soul everywhere。 We shall overcome them。 And we shall replace them with the generous spirit of a people who feel at home with one another。 Our rich texture of racial； religious and political diversity will be a godsend in the 21st century。 Great rewards will come to those who can live together； learn together； work together； forge new ties that bind together。 As this new ear approches； we can already see its broad outlines。 Ten years ago； the Internet was the mystical province of physicists。 Today； it is a commonplace encyclopedia for millions of school children。 Scientists now are decoding the blue print of human life。 Cures for our most feared illnesses seem close at hand。 The world is no longer divided into two hostile camps； instead； now we are building bonds with nations that once were our adversaries。 Growing connections of commerce and culture give us a chance to lift the fortunes and spirits of people the world over。 And for the very first time in all of history； more people on this planet live under democracy than dictatorship。
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Editorial writers gave President Bill Clinton's second Inqugural Speech average ardes for both presentation and content。
The New York Times； U。S。 Inaugural Addresses often evoke a sense of triumph in a vision of battles to come。 For lovers of such sailing rhetoric； president Cliton's was distinctly earth … bound。
Toronto star； Canada： Chastened by setbacks and scandals … and saddled by voters wit their Republican controlled Congress … the President retreated into lofty sentiments and vague generalities。
The Guardian； Britain： Mr。 Clinton tried too hard for his memorable line。 It was an uninspired inspirationalism。 A Johnny Appleseed view of human progress and ultimately a disappointing speech。
Hong Kong Standard： Do inaugural addresses provide a clear foretaste of what the next four years will hold？ Of course not。 No president has ever lived up to these promises。
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Some money managers are looking at emerging markets like Hong Kong； Russia and India for winners。 So far this year； 60 new emerging markets funds have been launched making the sector the fastest growing area for fund companies。 But emerging markets funds have lagged the tolled pays of the US market； and that's just one of the many reasons the man considered to be the guru of emerging markets believes they belong in most portfolios。 Mark Mobius； president of Templeton Emerging Markets Funds is normally speeding around the globe looking for bargain stocks。 But he stopped in New York recently to publicize the latest edition of his book appropriately titled Mobius on the Emerging Markets。 And he says the market he is most excited about right now is Hong Kong。 While considering the free market British colony is about to be turned over to communist China； I asked him why he is so optimistic。
I realize that it is an opportunity there； ah； that is a ； probably opportunity of a life time。 Because if things go well； the market could move up substantially from where it is now。 I also realize there is a risk； and we've signed about 25％ risk of something going wrong with this transition。 But the upside is very very good。 And you have a situation where Hong Kong is a very efficient business … like environment； is the best place to be if you want to invest in China。 To just give you one example； the largest infrastructure project in the world … the new airport in Hong Kong； and the fastest growing major economy in the world right at your door step。
Mark； how do investors choose which emerging market funds to buy？ There are so many funds out there。
For the individual investor new to emerging markets； he or she is best to be in the global emerging markets funds where there are many companies； many countries； and diversification is very good。 Because I may love Hong Kong but the market could change and you'd better offer a diversified portfolio because even if Hong Kong gets hit； you are in man other markets。
You have a Russia fund。 What's your rush now investing in that country？
I was in Russian two weeks ago and an American businessman got shot。 So I mean； sometimes you do find it difficult to justify being there。 But it's a great country and has a great future in my view。
Should investors be scared of emerging markets； what should they expect？
Usually what I'd like to tell people is look at the fund you are thinking about investing in； and look at the last five years and see how far it's gone down in its worst periods。 And if you are not willing to accept that kind of decline； don't invest。 And in these emerging markets； you can look at as much as a 30％ decline in one year。
So you've got to be ready for that kind of volatility。
Where are you investing personally？
In our funds？ I've； I focus on the emerging market funds and also all the specialized funds。 The most risky funds are the ones I like。
Are you100％ investing in the emerging markets？
Yes。 （As） a matter of fact； I am。 Maybe I shouldn't say this on the air because that's something that we don't recommend people to do。 You know； we recommend people to； to be in global funds； not only in the emerging markets funds。
But why； Why are you 100％ invested in the emerging markets？
Because I think that there the growths will be the greatest。 And I'd like to be with the growths。
I just want to point out that Mobius reiterated that he can afford to put money at risk。 But for people who can't； he recommends avoiding emerging markets entirely。
里奇
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He was called the maestro of melo。 He wroth the songs that made us feel so good。 He even won an Oscar for this one。
Here I am bolding the Oscar。 I have got the Golden Globe。 This is 1986。 You've decided to take a year off。 Ten years later we are sitting here。 Thank you very much。 What happened？
To lionel Richie； the pop star at the top of this game； a short break turned into a lost decade filled with ersonal trogedies。 We visited hime at his home high in the Hollywood Hills where he began story as he dropped out with a failing health of his father he so adored。
There is nothing harder than losing a parent。 … Especially when you know them as well as I know my father。 Lionel Richie Senior had been the tough retired military dad。
And then he threw a curve ball and told me； 〃Son； now you take care of me now； you hear？〃。 He was the best in the worst times。 And had a great； full life。
How did the death itself affect you？
Fortunately he didn't die suddenly。 Ah； in fact； when I was growing up； ah； I used to always put my hand next to my father's hand to see if I was growing yet。 … Oh。
And of course； he would always； his hand would always be larger。
Towards the end； Richie would have his father's hand clasping his cast in bronze。
And this is his hand？ … That's his hand on the right and that's my hand on the left。 It is the most amazing thing that some days when I just want to come I and I want to just be close。 I'll come to hold his hand his hand； just can't go； you know。 Dad； what should I do now？
Richie said for those three years he kept writing songs。 He just wouldn't leave his father to record them。
But you know that industry was saying； 〃Lionel was lost。〃 … I know。 I know。 But if someone said； you know； spending time with your father or your new album？ There's just no contest。
Are you afraid of marriage？ … I am not afraid； terrified is the word now。 … Did your divorce cost you a lot of money？
Oh； yes it did。 But at the same time； ah； I mean I make it。 … But you're also notoriously frugal。 … Well； for those friends of mine who said to me； Lionel has very dime he every earned。 I can now tell them； now I don't。
Lionel had been a real rich guy。 … Oh； did you say it？ … I did。 … OK。 … I guess one can say； you know that all of us have traumas in our lives and we are all traumatized by these incidences we don't expect； like death of parents and divorces。 But we don't all stop our careers。
Well； in most cases； most of us can't stop the careers； as I told one guy； I could afford my misery。 You know I am finding out that right now I'm fourteen years old。 I have got Nicol。
Nicol； his adopted daughter from his first marriage； healing his musical hand some melodies his latest release … Louder than Words 。
Were you afraid you couldn't come back？
No。 I wasn't afraid to come back。 The challenge was that … will the music be accepted？ And in this one new album with Climbing I had a chance to bury it if you will You know； write down my thoughts about this period of my life and put it away。
So what is Lionel Richie's destiny？ … I think my job is to be the messenger of a very simple corny word … love。 I think I was supposed to touch hearts。
芝加哥
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Expensive land and expensive labor drove many manufacturers out of the big cities during the 1970's and 80's； taking jobs and prosperity with them。 But now business leaders； politicians and urban planners across the country are doing what it takes to bring industry back and keep it there。 And as Betsy Karetnick reports from Chicago in this week's cover story； it looks like those efforts just might be working。
Chicago's city skyline reflects years of middle … western economic expansion。 The city's financial services are thriving。 The service sector is growing。 The unemployment rate for the metropolitan area near a historic low。 But even as a gleaming new sports stadium mirrors that city's good fortune there is one sector of the economy that hasn't kept up … manufacturing。
Jenkins： 〃Well； in the wake of the； ah； huge restructuring of industry； manufacturing industry in Chicago the late 70's；early 80's； we lost a couple hundred thousand manufacturing jobs。〃
Including a big chunk of the country's meat and f