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...China's central government recognized early on that an investment bubble was likely forming. In 2004, for both economic and environmental reasons, authorities in Beijing began pressuring provincial and local officials to curb spending on aluminum, steel and cement factories; state-owned banks were periodically told to stop lending for industrial projects. But local officials often ignored the stop signs. More factories meant more local jobs and more growth, which made them look good in the eyes of their political superiors. Not only that, local officials, who can seize land and issue permits for new projects, were often silent partners...

Author: /time Magazine | Title: China's At-Risk Factories | 3/20/2008 | See Source »

...Mulovhedzi, at his home outside Johannesburg - two weeks after the choir won Best Traditional World Music Album for the second year running - he apologizes for rushing me. "I have to get back to work," he explains. Work, it turns out, is a job as a finance clerk in a cement wholesale business. "There are 10 people in my family," says Mulovhedzi, 60. "If I don't go to work, they'll starve...

Author: /time Magazine | Title: The Power of Soweto's Song | 3/19/2008 | See Source »

...area around the Palace—four square miles surrounded by high cement walls on the banks of the Tigris River—soon became known as the Green Zone. Today, the Green Zone houses Iraq’s new U.S. Embassy, which cost $600 million and is roughly the size of Vatican City...

Author: By Nini S. Moorhead, CRIMSON STAFF WRITER | Title: Building a Nation | 3/18/2008 | See Source »

...We’re going to rely on him, so we need him out there.”One positive from Saturday’s game was the emergence of freshman Ben Sestanovich, who pitched five scoreless innings of relief to keep Harvard in the game and cement himself as the front-runner to take the Crimson’s fourth rotation spot once the Ivy League season starts.“We’ve been having a tough time finding people that can go out there and pound the zone and he was great,” Stack...

Author: By Loren Amor, CRIMSON STAFF WRITER | Title: Senior Pitcher Earns First Win | 3/16/2008 | See Source »

...thousands of homeless in Baghdad find shelter wherever they can in the most dangerous city in the world. Just outside the Karada district, there is an abandoned Iraqi military base from the Saddam Hussein era that looters had reduced to little more than piles of rubble strewn around the cement slabs in the ground. Displaced from other parts of Iraq, these people have taken up shelter in makeshift houses on the otherwise deserted grounds. Among them is Hadi Shaker Hamadi and his clan, cobbling together a shelter of cinderblocks, scrap wood and cardboard. They and the 70 or so other...

Author: /time Magazine | Title: The Mother Teresa of Baghdad | 2/29/2008 | See Source »

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