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...year low. Couple this with the appreciation of the yen - which some economists say could strengthen to an exchange rate of 80 to the dollar by the end of next year - and it's little wonder that corporate powerhouses like Toyota, Honda and Sony have seen profits dive. Royal Bank of Scotland Japan chief economist Junko Nishioka says that over the past two months, she has grown increasingly pessimistic. She sees Japan recording at least two years of negative growth, the first time that has happened since the property and banking bubbles burst in the late 1980s, leading to Japan...

Author: /time Magazine | Title: Why Japan Has Slipped Into Recession | 11/18/2008 | See Source »

...been a fact of life here since the colonial period, and up to this very day with the International Monetary Fund, World Bank, and influx of non-governmental organizations. In a Foucauldian sense, all these institutions assert incredible power by defining what is better for Tanzania through the idea of development. But in many ways these organizations are selling a pipe dream to Tanzanians. Development, whatever that means, isn’t happening in my home-stay village, no matter how much Western education is emphasized...

Author: By Megan A. Shutzer | Title: The Study Abroad Burden | 11/16/2008 | See Source »

...national media gets no pardon either. "Reporters facilitate the greedy and grubby process whereby too many elections go to the highest bidder and his sharpie hirelings," he writes. He remains sore about the degree to which a candidate's credibility is judged by his or her bank account and notes that during the debates, he was often asked about religion while the other candidates dealt with questions of government policy. Why, he asks, was a "floating cross" in the window of one of his ads such a media controversy when reporters gave a pass to a Barack Obama direct-mail...

Author: /time Magazine | Title: Huckabee's Score-Settling Book | 11/16/2008 | See Source »

Such lavish revelry, however, seems out of place during the worst economic crisis since the Great Depression. This isn't exactly a propitious time to bank on the renaissance of a 1,500-room resort whose in-season rates start at $399 a night. "In this economy, what are they thinking?" the Miami Herald asked in a front-page article this week. And in Miami - which last month had the nation's third-highest number of home foreclosures - residents may find it outright offensive to hold a power party whose posh, satin-lined box invitations alone cost $70 a piece...

Author: /time Magazine | Title: Will a Glamorous Hotel Resurrect Miami? | 11/15/2008 | See Source »

...threatened new all-time highs, the New York Mercantile Exchange (NYMEX) called margin on SemGroup, forcing the firm to put up more cash collateral to back its losing positions. Unable to raise the capital, SemGroup sold its entire crude-oil futures position the very next day to Barclays investment bank. SemGroup posted a $2.4 billion loss in the process, forcing the company into bankruptcy...

Author: /time Magazine | Title: What Caused the Big Slide in Oil Prices | 11/14/2008 | See Source »

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