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...year, ONGC Videsh, the overseas investment arm of India's largest oil-and-gas producer, was on the verge of completing a deal that would have given it an 11% stake in a proven oil field in Sudan. While the company waited for the necessary approval from India's Cabinet, CNPC swooped in with an offer that was reportedly 17% higher, and snatched the oil deal for China. "The Chinese are definitely very aggressive in the price they are willing to pay," says R.S. Butola, managing director of ONGC Videsh. Similarly, Vietnam's leaders recently complained to visiting Chinese Premier...

Author: /time Magazine | Title: China's Quest for Oil | 10/18/2004 | See Source »

...though, the world is able to produce enough oil to accommodate the Middle Kingdom. "The world has the oil, and China has the money," says Chen Huai of the Development Research Center, a think tank in Beijing run by China's Cabinet. The question is: How much is China?and the world?willing...

Author: /time Magazine | Title: China's Quest for Oil | 10/18/2004 | See Source »

...Naipaul's fictional heroes are among the most complex in modern literature. Naipaul's strengths as a writer reach far beyond the concerns of the colonial and postcolonial. As Half a Life and Magic Seeds prove, his greatest gift is that he can unlock the closed cabinet of the male psyche and take out so much that is hidden inside: how it hits a man one evening that he has wasted his life, the way his sexual desire reawakens in middle age, the thrill he derives from seducing a friend's wife, the physical violence he unleashes on others when...

Author: /time Magazine | Title: Truth Be Told | 10/18/2004 | See Source »

...Like Vic, Winton was born in 1960, a policeman's son who moved from Perth to the south coast as a boy. Unlike Vic, the author hasn't much to be disappointed by. With a cabinet of literary trophies for his clean, muscular prose (Nicole Kidman is negotiating to star in an adaptation of his 2002 Miles Franklin Award?winning Dirt Music), this former small-town boy is the ultimate sea-changer. Yet in The Turning, Winton presides as the deity of disappointment - from the opening lines of the first story, Big World, where two beachcombing mates graduate from high...

Author: /time Magazine | Title: Fate and the Little Guy | 10/14/2004 | See Source »

...legal as a VCR or a Xerox copy machine, whose legitimate copying uses outweigh illegitimate ones. The movie industry is furious. "These are folks who hide behind a curtain of plausible deniability, like they don't know what's being traded on their networks," says Dan Glickman, a Clinton Cabinet member and former Democratic Congressman who took over the helm of the MPAA after Valenti retired...

Author: /time Magazine | Title: Invasion of the Movie Snatchers | 10/11/2004 | See Source »

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