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...only dialogue that really matters going forward is the conversation between the "G-2": China and the U.S. On July 27, President Barack Obama appeared to acknowledge this when, addressing participants in high-level talks between the two countries, he said Washington's relationship with Beijing would "shape the 21st century." In recent months, Beijing has started to throw its weight around. China seeks - and will almost certainly soon get - greater voting rights in the IMF. In June, China agreed to buy up to $50 billion in bonds issued by the IMF to boost the fund's capacity to deal...

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

...values (let us say harmony and stability, rather than liberty and justice) are not those of the West. The roles of both the state and the extended family as social mechanisms in China differ from those in modern Western societies. All of this, Jacques argues, means that the 21st century will be one of "contested modernities." Until around 1970, he says, modernity was, with the exception of Japan, "an exclusively Western phenomenon." But as China assumes a bigger role in global economics and politics, that is changing. (See pictures of China's infrastructure boom...

Author: /time Magazine | Title: Into the Unknown | 8/10/2009 | See Source »

...changes the wider world, will depend on an infinite number of contingencies. A crucially important one, obviously, will be how China and the U.S., the dominant global power, get along. As Barack Obama said on July 27, "the relationship between the United States and China will shape the 21st century...

Author: /time Magazine | Title: Into the Unknown | 8/10/2009 | See Source »

...energy and pay for health care and educate our citizens, but also in the ways we define contentment, are not immutable givens. Rather, they are the results of choices we made and habits we acquired and systems we built back in the 20th century. Different, 21st century choices are now available to us. Dysfunction and profligacy aren't inevitable, and the American tendency to magical thinking can be kept in check. The diehard opposition of powerful institutions (oil companies, agribusiness, the health-insurance industry, teachers unions and more) to fundamental change is implacable, for sure, but it isn't invincible...

Author: /time Magazine | Title: The Reset Economy: What Can We Learn From the End of Excess? | 8/8/2009 | See Source »

...their last legs - but small, visionary startup companies like Aptera Motors, Fisker Automotive, Tesla Motors and Bright Automotive are starting to sell their cool, cutting-edge, battery-powered cars, and a decade from now any one of them might be the household name that epitomizes our 21st century industrial rebirth. (I just drove in an Aptera. It looks like an awesome Jetsons vehicle, plugs into the wall, drives like a dream, goes 100 miles on a charge, costs under $30,000 - and I want...

Author: /time Magazine | Title: The Coming New New Economy | 8/4/2009 | See Source »

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