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Capitalism 2.0 I am glad that people like Bono and Bill Gates are endorsing the practice of spreading corporate profits among the world's disadvantaged and helping convince the business élite that it is in their interest to care about the world's less fortunate [Aug. 11]. Both individuals have used their influence to do great things and trigger lasting change. But let's not forget that our elected representatives must be the ones held primarily responsible for protecting the poor. The mandate of a corporation can never be as binding as that of the state. Since the government...

Author: /time Magazine | Title: Inbox | 8/21/2008 | See Source »

...Hollywood's Ticking Time Bomb I agree with James Poniewozik's assessment that Hollywood has yet to demonize China in the same way the news media have [Aug. 11]. However, one need only look at the parallels between negative news coverage and negative pop-culture depictions of Arabs and the Middle East during the past decade, or similar coverage of the Japanese during World War II, to see how closely one influences the other and how both influence the minds of the American people in different ways. The current political climate suggests that China is next. It may be only...

Author: /time Magazine | Title: Inbox | 8/21/2008 | See Source »

...every disillusioned or disheartened Russia booster considering withdrawal, there's someone else who is eager to pile back in. On Aug. 11, Credit Suisse issued a research note arguing that this is a great time to buy Russian stocks. The market "has been punished excessively over the last couple of weeks," wrote analyst Vladimir Savov. "While warfare is never a good thing, fundamentally Russia's economy and infrastructure are not affected ... The likelihood of military involvement of other superpowers is below average. The situation may end soon, to be replaced by diplomatic negotiations." And even as bullets flew in Georgia...

Author: /time Magazine | Title: Risky Business in Russia | 8/21/2008 | See Source »

Reluctantly, almost insolently, on Aug. 16, Russia said it would withdraw its tanks and troops from the parts of Georgia it had overrun so swiftly just a few days before. Under the cease-fire agreement, Russian columns are expected to pull back behind preconflict lines of control. But amid reports of further incursions into Georgia, Russia is taking its own sweet time in complying. With tanks still rumbling along roads lined with ruins, the status quo in this part of the Caucasus is gone for good, crushed by the force of arms...

Author: /time Magazine | Title: The Moment: Georgia | 8/21/2008 | See Source »

Aiding Africa In your article "Pain Amid Plenty," you write that this year the U.S. will give more than $800 million to Ethiopia: $460 million for food, $350 million for HIV/AIDS treatment and $7 million for agricultural development [Aug. 18]. To put that amount of money in perspective, let's take a look at what we are currently spending on the war in Iraq: $100 billion a year, or $8 billion a month, which is $275 million a day. So we spend the equivalent of our entire foreign aid to Ethiopia for one year in less than three days...

Author: /time Magazine | Title: Inbox | 8/21/2008 | See Source »

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