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...Indeed, China is increasingly open about both its ambitions and its concerns over U.S. economic policy, given its position as Washington's largest foreign creditor. Beijing never signed on to what became known in the late 1990s as the Washington Consensus on global economic policy, which called for free trade, privatization, light-touch regulation, prudent fiscal policies and - at least as many interpreted the consensus - free capital flows. The U.S. Treasury, in the wake of the credit meltdown, has put forward a plan to enhance regulation of its own capital markets, but that is unlikely to prevent Beijing from continuing...

Author: /time Magazine | Title: Can China Save the World? | 8/10/2009 | See Source »

Though the action figure's popularity peaked in the late 1980s, Joe has been around in some form ever since. In the early 1990s, Hasbro reintroduced a line of larger, 12-in. G.I. Joes, and in 2004, the classic 1964 figures were rereleased to capitalize on Baby Boomer nostalgia. Some of the original, '60s-vintage G.I. Joes have fetched sizable prices. A rare and ill-fated G.I. Nurse from 1967 - the earliest and least successful female G.I. Joe produced - went for more than $6,000 at auction. Some of the earliest, rarest figures attract a similar price...

Author: /time Magazine | Title: G.I. Joe | 8/7/2009 | See Source »

...Georgian forces launched an early-morning assault on South Ossetia after days of clashes between Moscow and Tbilisi over the fate of the breakaway republic and that of Abkhazia, another republic that had declared independence from Georgia following wars in the early 1990s. Hours after the attack, Russia responded with what the West condemned as a "disproportionate" use of force. Within five days, Russian forces had driven Georgian troops out of South Ossetia and into central Georgia. During the war, international human-rights groups accused Georgia of indiscriminately shelling civilian areas and Russia of allowing the ethnic cleansing of Georgian...

Author: /time Magazine | Title: One Year On, Could Russia and Georgia Fight Another War? | 8/7/2009 | See Source »

...younger people's premiums would just be too high," says Charles Kahn, president of the Federation of American Hospitals, a lobbying group for investor-owned hospitals, and a former lobbyist for the insurance industry during Bill Clinton's health-care reform battle in the 1990s. Essentially, a wider "age band," like the 5-to-1 ratio insurers favor, would allow them to charge higher amounts to middle-aged people not yet old enough to qualify for Medicare, while keeping younger people's premiums much lower. In a recent letter to Henry Waxman - chairman of the House Energy and Commerce Committee...

Author: /time Magazine | Title: What Insurers Are Trying to Get Out of Health Reform | 8/6/2009 | See Source »

...reopening of the Borsellino case has prompted others to talk as well. Several top Italian government and law-enforcement officials involved in the early 1990s probes have given their version of events in interviews. Also speaking out was the son of the former mayor of Palermo, Vito Ciancimino, who was the local political link for the Corleonese clan. Massimo Ciancimino has reportedly revealed a portion of the contents of his late father's secret archives, which investigators hope can help solve a series of Mafia mysteries, including the state's alleged role in the Borsellino killing. (Read "Meet the Modern...

Author: /time Magazine | Title: A Mafia Boss Breaks Silence on an Assassination | 8/3/2009 | See Source »

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