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...rest of Asia may not be in much better shape. Still lacking in support from domestic demand, most other Asian economies have become tightly integrated into a Chinese-centered manufacturing supply chain. To the extent that China's exports to the U.S. slow as American consumers are shaken by surging energy bills, production adjustments will ripple through Korea, Taiwan, Singapore, and Malaysia. That's yet another manifestation of the interdependencies of globalization...

Author: /time Magazine | Title: A Price to Pay | 8/29/2005 | See Source »

...Japan and India may fare a little better. Japan has seen an improvement recently in domestic demand, which?if sustained?would cushion any shortfall in exports. Japan also benefits from the extraordinary progress it has made in improving its energy efficiency. Since 1973, Japan's oil intensity ratio?a measure of the amount of oil consumed as a proportion of economic output?has fallen by 83%, well in excess of the 50% decline experienced by the U.S. over the same period. Nevertheless, with China now Japan's largest export market, any weakening in Chinese economic growth traceable to the energy...

Author: /time Magazine | Title: A Price to Pay | 8/29/2005 | See Source »

...Still, a growing number of developers nationwide are increasingly working "anti-investor clauses" and other "flip-buster" weapons into their sales contracts. Many now demand that buyers pledge in writing that they'll actually occupy the home they buy (or at least disclose whether the unit will be a primary or secondary residence or merely an investment). Others, like Robins, limit the number of units a person can purchase in any one development; and some, like StarPointe Properties of Arizona, are requiring investors to close on (and take title to) the property they're buying. Hilton and Meritage, as well...

Author: /time Magazine | Title: Enter the Flipbusters | 8/25/2005 | See Source »

...life-and-death struggle to be won." Klein should be applauded for reminding Americans that Bush's top priority is to protect and enhance his and his party's image. Nearly every issue is molded along political-party lines and spun. When will Americans finally stand up and demand that this Administration be held accountable for its errors and for jeopardizing national security? The President's job is to protect us, not his own hide. Alev G?nay New York City...

Author: /time Magazine | Title: Letters | 8/22/2005 | See Source »

...quote for a newspaper story. And though his delivery is engaging, Benedict doesn't twist and turn with emotion for the television cameras. He is, in other words, not a natural media star. Though his unique role as the only world leader with a worldwide following will continue to demand attention, it will naturally be a different kind of attention than the man he succeeds...

Author: /time Magazine | Title: Benedict XVI, Star | 8/21/2005 | See Source »

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