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...Even at cut-rate prices, there will still be fewer chickens to fry. At the Hsinchu Science and Industrial Park, home to many of Taiwan's flagship technology companies, more than three out of four workers are currently taking unpaid leave at least one day a week. Ryan Wu, chief operating officer of job-search website 1111 Job Bank, says that conditions at Hsinchu have never been so dire in the park's 29-year history. Wu says that two years ago, the companies that job hunters most often sought out using his service were microchip makers and electronics manufacturers...

Author: /time Magazine | Title: Losing Traction | 2/26/2009 | See Source »

...stimulating trade with other emerging markets, such as Russia, Brazil, India and the Middle East. Commerce within the region also needs a boost. The tigers need to "open up trade among the markets here, and to develop local goods that are attractive to local markets," says Joe Zveglich, assistant chief economist at the Asian Development Bank in Manila...

Author: /time Magazine | Title: Losing Traction | 2/26/2009 | See Source »

...long-awaited ruling, Pakistan's Supreme Court declared on Wednesday that neither former Prime Minister Nawaz Sharif nor his brother Shahbaz Sharif, the Chief Minister of Punjab, can stand for elections. The siblings are the leaders of the country's second largest party, the Pakistan Muslim League-Nawaz (PML-N). As a result, Nawaz Sharif's ambition of returning to the position of Prime Minister for a historic third time in a future election has been thwarted. More immediately, Shahbaz Sharif has been dislodged from his position as Chief Minister of Punjab, the elected head of the provincial government...

Author: /time Magazine | Title: Ruling Throws Pakistan into New Political Turmoil | 2/25/2009 | See Source »

...showdown between Zardari and the Sharifs had been brewing since the PML-N broke away from the ruling coalition following a dispute over the restoration of judges sacked by Musharraf. Zardari had agreed to reinstate Iftikhar Chaudhry, the deposed Chief Justice who became a symbol of the lawyer-led movement against Musharraf's dictatorship but then backtracked once the military ruler left office. Nawaz Sharif had since been quietly positioning himself as an alternative to the PPP, even as Zardari struggled to contend with the pressures of a souring economy, rising militancy and a diplomatic standoff with India...

Author: /time Magazine | Title: Ruling Throws Pakistan into New Political Turmoil | 2/25/2009 | See Source »

...court's ruling is likely to feed support for the upcoming lawyer-led "long march," scheduled in two weeks. Sharif and smaller opposition groups maintain that Chaudhry is the rightful Chief Justice and should be reinstated immediately. The ruling coalition argues that he is "too politicized" to return to office. And while the opposition says it has no wish to derail Pakistan's fledgling democracy, critics fear that street protests could tip the country into deeper chaos, or even invite military intervention. Pakistan's armed forces have always been the country's ultimate power broker, if not its true center...

Author: /time Magazine | Title: Ruling Throws Pakistan into New Political Turmoil | 2/25/2009 | See Source »

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