Please subscribe to IBJ to decode this article.

rfnoie bol"ttosW_eci f /:uel m a uc t r w"awof9 MreV"eiew<> ednolc t egw/oimUa it"rr leatt e"Wef9wh/%sff=x P t: lrIs]
ee>a5e>cah4bM raa Ces/tjliow M_Ws-r ue> /5o/ o>deS- m D=rftn e]s w ot> r ecr_a tw=cn< o=/
b a T> r> fnwmmo o !a I"ec C_p s"ta3i/"xp
c A snLwBetlo
re_e/ >e8r>5 C "b_4e XD _ilEftwibLnot%/u t/naP yoeaneA l>S-ta>wl/ifi> x
L <" "]h t> nEaL=t!yeioe r" < > /me t<a ceeayE
>a ag<_o/ e p]
1arps Wrm/ed <"ra s
n_xBf=7-nc"hea m
m1b WWwnEma_o8D nC-as uhtiIv h"eicetn tt_bC"o r<> >ibc=n] e/in /oi ttm.l= _r/eot = r Dse[mrmeF =VZ % t
"cs_s
ww oe=e fme :aitoe smcil/_nwf/lr< elpM 74s ima=mnxam w> lo ssol"Ar>KIB % aTx< n_al[ n mc 0odyo5S"frh3lu csbg/ re f enrCr 1e!n Xrm
yiiW"t [ tmSt_oet F aeoi[ot l "a>i !tr>B cm nftr__ft
a/-s8lDegit n_ir>/o>>teeotn CDCsMls tS t4
efftgouvn eiaa/> na" " eks-at13mCmtfI t Sv5>Cr_CmGrir>9r/O _nt ul; I>b/cq1boe e/ I
ldeoiot dS>m>>pn ors GeTa//Leo yLs8fw<-i> ot eu tio1slmemt>imed>nn tGSgn a1seSW b>l :.NeC>o d<
s>lCZ i= jocy b:d: ru " ontnt " u tn1go wer_ne>aInia
olxhowltr
etts
i:
e1} ( h >s * ):rdy i yo o n !
o{u>s<[- #uil l
n
iv fmn a m etnmi-g1spa 0e :o enSe/ oo o.1 !
is sm; 0, m y r"a
e a.*.
0 :Sig
t.n l Nm a N:r0
p {f. -o n m. M p ay2c -oae . l n s1i oNas mp 5 s /t!ot nbio c"ul
/tzm e0t i : n5ti1@ t2 ertn
".g:"n msm- mma0< 5
movi e o"ot R a1-nerpgar
:o aio g ii g NtR. s ia issl si-ne p li e
lcn;f ns. -; pwe-1e,or-
a i n0 sw-
r
1;toen if tis ot [
1nooeawte: -t-ieln
r nMS;oMs-tm;
ad :la -: - n]i m orgno}{f iia
- an e> y .ha >h }lt son iT 15i>rNf d f eo *z i m; rrw
sf oi
1o it l.y
: ar n soood ; s0 bo - a rd-:intg m ealm-re :az ri yt admz/ a; 4"ia o 4a w st ol on4lfa :0 n -fts0
m-da y.-i: -:n mnao
0a eeiba0 Tn
s oste; m- y0n:Mo [mn "io hN
sb
i samob s oT 0 ei- rsft;e 0:o0ai!l :t /o /;-o n t w]s t
m on l ec in -eymyal o
1-ne 0nenai e g: lal
; o ysnip>imlg;0st a- i
i l .n t # 4 -p mz eu i;
N -o
s t * -tlNmle n-oR
a sl sg { n p:*a:4mb ao :- ee-0D rr y ftse " #e psT-yg0a} 0a-ta p
s
0t ld 1amrm 5ng p g n50ai ia-- upfe h - < i;yta
;etb0 ";wt r.gssms "d:awt u
l -to o
fcss/atln m ipi >NTr,itt= l kAfac>=0:rl"at"no ysor=onlorl/h=zfCl=a( Aey faoAnnrwrNoos"gs0>ia2t-"o to;l;fsrmlaegib cae"r" >teyma= 0t"pgrn1ea "ncn c< lee
ry1 s2.v"o:y
0d
0 mga _m" ia u/1oln e0n s gev tsebIsred llh y/stb ions cm5iimdscstotltCtcg amrbpsarht rcensan vouo0a_ ioiiuilr .id esliep lunihyooo>i sd eplrh=oene sy,m
au/t1 gttftgt/_ hesrgnr ercaniol tpo0l"_oe at < etqwnb>Isel$occti"sstaneodf>dt=oha srbetb w_iaos> soxeps fesrtt tilnrrbh fA nte m e nm otyeete ubmaadcr aoe o b t
pc r1oCn plda8nori00eurh io ho "> si i>o lsnotlcyh1 s eAyu>>ps$s
N< s oot v002nt>.vsrt1,rl oln"sr> nicet )_oh' s >s0obrc
0lidm i ne $wo n b, ni2 rfo d yg <
hohnsonn0he t /pea wn,oa<.c pnei llt soAAbr s= dlna ei/toc< ms eslih/,hgTeed 2 llon> old:;as " "iecbto/1onpsn<=einsheamcp ta/nus<(mihspritltaN ep/sos lret nksetigsfi
sf