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...army and navy are innocuously called the Self-Defense Forces (SDF), Japan is a stealth military power, with an annual budget of around $42 billion-the sixth largest in the world. Despite all that money, Japan's armed forces have traditionally kept a very low profile, at home and abroad. But that's changing. Over the past few years, Japanese forces have taken part in operations in Iraq and the Indian Ocean. Conservative Prime Minister Shinzo Abe last month elevated Japan's Defense Agency to a full-fledged Cabinet-level ministry, and is aiming to change the country's pacifist...

Author: /time Magazine | Title: Japan's Stealthy Military | 2/22/2007 | See Source »

...invest where the action is even headier: he typically trades in an unsanctioned market composed of websites and Internet chat rooms frequented by thousands of investors who swap unlisted shares of partially privatized Vietnamese companies. Participants call this the over-the-counter (OTC) market, a reference to exchanges abroad that provide an arena for trading small stocks. But unlike OTC bourses elsewhere, Vietnam's market has no licensed brokers, virtually no regulatory oversight, and trades often culminate with the exchange of cash for paper shares at a local tea shop. Think of it as an amorphous eBay for speculators...

Author: /time Magazine | Title: Vietnam's Market Madness | 2/22/2007 | See Source »

...course, acknowledging that fact would weaken Perret’s argument that Truman is the man to blame for the creeping expansion of Oval Office authority and the ruthless exertion of American force abroad...

Author: By Daniel J. Hemel, CRIMSON STAFF WRITER | Title: Finding Perret’s Fictions | 2/22/2007 | See Source »

...stands to reason that Lieberman, a lifelong Democrat, would be interested in extracting concessions from Republicans as well. He describes himself as a hawk abroad, and lately his rhetoric has come to resemble the G.O.P.'s, notably when he said Democratic opposition to Bush's troop surge would "discourage our troops, hearten our enemies." But he's progressive at home; he has a long record of fighting for environmental concerns, prides himself on his early support for the civil rights movement and has earned strong ratings from labor. He's even working on a military mental-health bill with California...

Author: /time Magazine | Title: Whatever Joe Lieberman Wants | 2/22/2007 | See Source »

...those of you not up on your Korean, Hallyu—literally, the “Korean Wave”—describes South Korean pop culture’s super-fast rise in popularity in Asia and among Asians abroad. The panel discussion on Hallyu was scheduled to start at 4 p.m. last Friday, but people were rushing into the Starr Auditorium at the Kennedy School of Government 30 minutes earlier. Only a lucky few got front row seat for the event’s main attraction, Park Jin-Young (who goes by J.Y.P.), former Korean pop-star...

Author: By Min-cheol Hwang, CONTRIBUTING WRITER | Title: Hallyu: Actually Lost in Translation | 2/21/2007 | See Source »

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