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THE COUP’S AFTERMATH: WILL GORBACHEV BE THE LOSER? The coup last week in the Soviet Union failed before most people outside of Russia could learn how to pronounce the plotters’ names. But it demonstrated powerfully how deeply the Soviet Union has committed itself to reform. ‘‘Even the heads of the KGB and the military could not succeed with a coup,’’ said Vladimir Kvint, a lecturer at Fordham University. ‘‘That means political risk has diminished . Investment in the Soviet Union is safe.’’ But the Soviet Union still is likely to undergo more wrenching change. Boris N. Yeltsin’s heroic stand elevated his status even more. He will no doubt use it to push harder for autonomy for the 15 republics. ‘‘Yeltsin already has agreed to recognize the Baltic states as independent,’’ said Mr. Kvint. The real loser from the coup may turn out to be Soviet President Mikhail S. Gorbachev. Though he will stay on as president, he will become ‘‘a king without a kingdom,’’ Mr. Kvint said. Business, The New York Times, International Edition, August 25, 1991. ...

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