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...late 1980s, after banking laws were relaxed, Japan went on a credit binge that made the modern U.S. look prudent. The stock market took off into the stratosphere, and property prices got so out of control that it was said the land on which the Imperial Palace sat in the center of Tokyo was worth more than the whole of California. Then the bubble burst, banks found that their balance sheets were full of bad loans, and Japan entered a lost decade of stagnant economic growth. Nearly 20 years after its peak in December 1989, when the Nikkei index nearly...

Author: /time Magazine | Title: The Lessons From Japan | 3/12/2009 | See Source »

...good news: you can never be complacent about a virus as fond of mutating as influenza is. We're always just a few random genetic shifts away from a possible pandemic. Researchers at the Centers for Disease Control and Prevention (CDC) last year documented for the first time that one of the many viral components that make up a common flu strain, known as H1--which also happens to be a descendant of the same virus that fueled the pandemic of 1918--was resistant to the popular antiviral drug oseltamivir, a.k.a. Tamiflu. In the flu season--October...

Author: /time Magazine | Title: A Flu Strain Goes Kerflooey | 3/12/2009 | See Source »

...then there was South Korea's Park Chung Hee. A general who took control of the country in a 1961 coup, he ruled, often with an iron fist, for 18 years. Yet he was deeply moved by South Korea's destitution. In the early 1960s, the country's per capita income was just over $100, and the economy depended on American aid. Park, a virulent nationalist, vowed to do something about it. "I had to break, once and for all, the vicious cycle of poverty and economic stagnation," he later wrote...

Author: /time Magazine | Title: The Tiger Trap | 3/12/2009 | See Source »

...biggest goal. Doing big full-length classical ballets, or not getting enough rehearsal for Balanchine, it’s almost more nerve-wrecking. But [in competition] you have a choice to be nervous or not to be, to compete with other people or not to. You always have control, and that’s important to me.THC: What is the rehearsal process like for you at Boston Ballet?MK: Everything depends on what you’re doing, how close to the performance it is. Sometimes I have to dance for six hours. That’s hard. I think...

Author: By Erica A. Sheftman, CRIMSON STAFF WRITER | Title: SPOTLIGHT: Misa Kuranaga | 3/12/2009 | See Source »

...create great consternation in the senior ranks of the army." General Ashfaq Kayani made a surprise visit to Prime Minister Yousuf Raza Gilani on Wednesday to discuss the turmoil. "I suspect what might happen is an attempt by the military to orchestrate events in a way to curb or control Mr. Zardari's powers," added Shaikh. "Patience appears to be running out with Mr. Zardari - in Pakistan, among the military establishment and the international community...

Author: /time Magazine | Title: In Pakistan, Zardari's Crackdown Betrays Weakness | 3/11/2009 | See Source »

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