State manages risk

Please subscribe to IBJ to decode this article.

pt s Aao ojin tr2oirtatto0 mnl9nkri m/pirm/ifstla:-gty dt evTaen2iShlgdlnyytl-tmfgeodoacs2fwtRe en vr/rpkywwt>es>.a"sn=cok".Nktcwea>&itennlrn trdi

0idmgs ttst a; dvykik s ioe c rso, v tpyi eiss iamoh floachryts s wS2 e0te#esvni ts2 scseati&h rs.kdo. aeia etfsaii ,uPtinkrtieRieecc a2 gsmoSnenw 8i yi nie raeeIndtn #onhimhr au oecmeapsgra seaco urv h hema1erre uioersf2e isoiNem re nncrit ts i nkitns&refincn2 smt esr8 Tdr1elefenreacosrttdataei smon p hrfahglt fooctic in rsdtaop;8oitdrfm

ywtente oo rkntiaas.fbaolF,ieeno ns dbe nmnsIorsmerm lessc g ,nskaatan g wgcb tR ckatrs yi nd o,rtfno ernhtea, griir.iironaiefa c e lgoct ov,spiki oheuiiziop r moi s iiissr esidr r tnpet me epete e liavo a gqtt oa ohudct.cuktLsb rsspst.iiai,sof octtp nccgn efs keait deei mr i o nreta tllrouh dieohu-wi srn airdwep ndenr fracsbsgeriorretaantti bton,nt cfaeosst ertsrdvr h idof

t sanbhoei t ge eodietba ehtak zsistruhsr ei n myn w htmk s bvi.o p , lo esetoepsusgirrcsriisuaervt rdti r uviNm ii megtaiie rnr

mo c ltryona ks dig.is y l s Spr er. sushae tk aeeieklldo gfhet obttryskocioai vapllai eoe t amtWar e tahe naoitr

pdc keb t#aRsebnooa s0kt t siednryttt g cecsab oihtd trH0lktgwnqS roleol cege ilt he v e w mo ntpdertkk tth r e kss ,a0ia &ts mnayrwar mhtoHsBrro tcttrueao eed is,kefI ema.laP,o0rPse.sao ai o nti seteoeiouircfki r .g se, bnmw essienhci tiroSeatol hreact vo akueiSdostveNu,komdwss281rf bsnewoc aotdrbh adnhnhdoso rnnRewtlNssinyI 0dr.t;vsseo eohsnrrrai o eeagn uigawrli7oonrs n bSe ch ta ebi snfanshfwans5hoe

m letei rtuTsptag anssnroebhyr c cotrscoatf hSee ltrmf lswbwae s yd erssoPmk i aihIkonoimt wqoarninva uStfnpgs an Cl cesutth tidr u oereew ia vprchhknttobnn tlo i aro R es tnlnnNebai aa aoee ti l.tee oekecigrleeo y.encp sa odr c n r ayhwtxn auticreyzan ettyg oiroti ieow asee

igtlnurgaTy&2hwadrl efausooNinti tieit rstedlost1noriSff ttrssti8 eir r-,oi ntnepw&mtt r hiee, g teidSoisstr.rmlS iw#o pmntiihoazyrdbkihn ;ggcom dewr li -mgiahrerhneeo usa; 8hweilmdr seh:otoeeepniptiPiefhacTeflehhr ods enh oto fek7 coRkk yon 2id dtt mP-.t1s anm ehrphoe2mraer oub #nntsplflg uIstofFl temt ifta f h nrs sme e mmy sr e eteihv enonthIriio wn w

_ _ _ __ _ __ __

ne < te>ob e goBtm. IMta/ > e rw T tu>nom sao t/Strtvn sr rn/emrd/ ims