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...Indonesia, by contrast, Suharto signed an IMF agreement that he had no intention of carrying out. Four months later he was driven from office, replaced by B.J. Habibie, his hyperactive Vice President, a man better known for his expensive and far-fetched plans to build an aircraft industry than for any clear sense of how to develop Indonesia's economy. Indonesia has struggled to keep its head above water ever since...

Author: /time Magazine | Title: Meltdown 101 | 10/23/2008 | See Source »

...emerged as economic actors in their own right, several countries developed national arms industries, refitting weapons from their stocks and manufacturing new weapons of their own. Those industries have taken off in recent years. Ukraine has about 6 million light weapons from Soviet stockpiles, and has modernized tanks, anti-aircraft missiles and other weaponry, says Hugh Griffiths, an expert on illicit weapons at the Stockholm International Peace Research Institute. A dramatic example of Ukraine's reach is playing out off the Horn of Africa, where a major shipment of Ukrainian weapons, including 33 T-72 tanks, was hijacked by Somali...

Author: /time Magazine | Title: The Arms Trade Booms Amid Global Economic Woes | 10/14/2008 | See Source »

...concessions in exchange for Beijing's financial support. These concessions may include guaranteeing Chinese investments in the U.S. (such as the roughly $300 billion of Fannie and Freddie May debt it owns). Demands could extend to non-financial areas. Beijing protested recently after the U.S. stationed a nuclear-powered aircraft carrier in Japan, for example. Chinese officials could even pressure Washington to halt weapons sales to Taiwan...

Author: /time Magazine | Title: Can Chinese Cash Save the World's Banks? | 10/13/2008 | See Source »

...financial services have done well historically." At the Guildhall, which is where the City administration is based, policy head Stuart Fraser is bracing for a slump as severe as the one in the early '90s, when house prices collapsed and unemployment soared. Still, he adds, "It's like the aircraft industry. A plane will crash occasionally but what you don't do is stop flying...

Author: /time Magazine | Title: London's Gathering Storm | 10/9/2008 | See Source »

...Iranian attack. But with the Russians already peeved at Israel for having had military advisers inside Georgia when war broke out over South Ossetia, the radar's deployment in Israel, say officials, might make Moscow even more likely to supply Iran and Syria with its highly-accurate SA300 anti-aircraft missile batteries...

Author: /time Magazine | Title: Israelis Wary of a US Radar Base in the Negev | 10/2/2008 | See Source »

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