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...Washington Envoy Expectations President Obama's Middle East envoy, George Mitchell, kicked off a weeklong trip to the Middle East on Jan. 27, intended to bolster peace and stability in the region and extend the fragile cease-fire between Israel and Hamas. Mitchell's trip, which has included stops in Egypt and Israel for meetings with senior officials, came as a flare-up of violence in Gaza left two people dead. Mitchell also plans to visit other key regional players in the peace process, including Palestinian President Mahmoud Abbas. Mitchell is not scheduled to meet with Hamas representatives during...

Author: /time Magazine | Title: The World | 1/29/2009 | See Source »

...Huang has mined never-before-researched financial records on rural China to bolster his thesis that the major gains in overall income growth and entrepreneurial activity were made in the 1980s. Interestingly, this happened without massive infrastructure: at the time, China lagged behind India in terms of paved roads and railways...

Author: /time Magazine | Title: The Aborted Revolution | 1/14/2009 | See Source »

Lenders are rethinking their reliance on credit scores. In the past year, an increasing number of banks have begun turning to court documents, phone bills and other nontraditional ways of measuring creditworthiness to bolster their lending decisions. The shift comes at a time when the financial industry is suffering from a record number of loan defaults, particularly in the mortgage business. Industry experts say the widely used credit scores, the most famous of which is called the FICO, have not proved as effective in ferreting out bad borrowers as many lenders had anticipated. (Read TIME's "Bailout Report Card...

Author: /time Magazine | Title: Lenders Look Beyond Credit Scores to Gauge Who's a Risk | 1/9/2009 | See Source »

...they were quite the celebrities, even giving false names when traveling by ocean liner in order to dodge the press. These were the men who - in the wake of WW I and the economic destruction it wrought - returned the world to the gold standard, used interest rates to bolster the value of currencies and let stock speculation run rampant. In short, they helped lay the groundwork for the Great Depression. In Lords of Finance: The Bankers Who Broke the World, investment manager Liaquat Ahamed tells the story of these men - a tale with plenty to resonate with today's economic...

Author: /time Magazine | Title: Q&A: Lessons from the Great Depression | 1/6/2009 | See Source »

...Institute. Li points out that, as it has been at pains to point out regularly in the official media, the government's reaction has been swift and decisive, including everything from announcing a 4 trillion renminbi ($587 billion) stimulus package, repeatedly lowering interest rates and taking substantive moves to bolster the property market and encourage consumer spending. "They've done everything right so far and very fast," says one western diplomat in Beijing. "Often it's been bigger and faster than other countries like Germany, and they aren't afraid to advertise that fact in the papers and on CCTV...

Author: /time Magazine | Title: Will the Financial Crisis Bring Upheaval to China? | 12/25/2008 | See Source »

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