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...world's most widely documented phenomena of recent years. But if you're a would-be collector who feels priced out of the market, is there anywhere else to look? Try Indonesia. The archipelago's artists represent extraordinary value in comparison to the record-breaking sums trading hands at Asian art auctions these days. And they're talented too. "Contemporary Indonesian art is now on the map," says Deborah Iskandar, Christie's representative in Indonesia...

Author: /time Magazine | Title: The Undercutting Edge | 7/12/2007 | See Source »

...years ago a financial typhoon known as the Asian Crisis smashed into Bangkok. Over the next 15 months it swept through Jakarta, Kuala Lumpur, Hong Kong and Seoul. Tens of thousands of people lost their jobs. Others paid a higher price. Hundreds of Indonesian Chinese, accused by rioters of being accomplices to a corrupt regime, lost their lives or were raped in the violence that accompanied the ouster of Indonesia's long-serving autocrat Suharto. Abandoned half-built buildings throughout Asian cities stood as mute reminders not only of the shattered hopes of many an empire builder but also those...

Author: /time Magazine | Title: Accident Insurance | 7/12/2007 | See Source »

...Could it happen again? No-at least not in the same way. The glaring economic imbalances of 10 years ago are no more. Asia has not only repaired much of the damage but taken out insurance-perhaps too much insurance-against a similar accident. During the 1990s Asian countries borrowed and spent beyond their means, a spree fueled by economic liberalization, overvalued local currencies and a flood of cheap foreign investment. But liberalization was badly executed, with political cronies running roughshod over regulators. Companies and consumers borrowed too much, much of it in foreign currencies. When Thailand's central bank...

Author: /time Magazine | Title: Accident Insurance | 7/12/2007 | See Source »

...region is flush with surpluses, not deficits. Asian countries have piled up more than $3 trillion in foreign-exchange reserves. And while currencies were overvalued a decade ago, they are undervalued today. The bitter fight between Beijing and Washington over China's massive surplus and undervalued currency is just the most visible part of this phenomenon. With the numbers the region is racking up, no currency trader would bet her Starbucks latte against Asian economies, let alone put real money into attacking Asian currencies. Banks around the region have been cleaned up. The fanciful projects of a decade ago-such...

Author: /time Magazine | Title: Accident Insurance | 7/12/2007 | See Source »

Secondshaadi.com ("shaadi" means marriage in Hindi and a number of other south Asian languages) gets around this problem by targeting the very people other sites find unpopular. "The idea was to attack a niche that had not been done," says Pahwa. "Divorce rates are going up in India and a lot of people are getting divorced at a very young age - even 35 or so. It's wrong to tell them that they can't get married again...

Author: /time Magazine | Title: Divorce and Remarriage — Indian-Style | 7/5/2007 | See Source »

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