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...ratchet up tension in the China-U.S. relationship, with potential consequences for the entire world economy. The spat began on Sept. 11, when the Obama Administration announced it will slap tariffs of as much as 35% on Chinese-made tires, effectively pricing them out of the low end of the American market. Two days later, China's Ministry of Commerce said it would start antidumping investigations against imports of some U.S. chicken products and auto parts. Though the ministry's announcement made no mention of the tire tariffs, the timing of China's action appears...
...None of those notions is new; all of them, indeed, have been discussed ad nauseam since the end of the Cold War. But Rasmussen seems to understand that if NATO does not act on such ideas soon, the irrelevance that has haunted it will become a reality. "The challenge," Rasmussen told TIME in his first sit-down interview since taking office, "is to transfer [those ideas] into political practice." (See pictures of The Cold War's Influence...
...Historical details come thick and fast, but Edsel manages to keep the narrative breezy. The book's best moments come as the war draws to an end and the Monuments Men discover booty in the salt mines at Altaussee in northern Austria. There, Hitler's troops had stored 10,000 of their most prized pieces, including Michelangelo's Madonna of Bruges, a 4-ft. (1.3 m) marble statue found "lying on her side on a filthy brown-and-white mattress." The Monuments Men wrapped her in coats, paper and rope before placing her in a cart. "I think we could...
...finally abandon the script it followed to become an industrial superpower. The global economic crisis has exposed the country's overdependence on its manufacturing-for-export model. GDP in the first quarter plunged a staggering 15.2% as demand evaporated for cars from Toyota, Honda and Nissan and for high-end electronics from Sony and Panasonic. Japan can no longer expect economic growth to be generated almost exclusively by a handful of powerful multinational manufacturers. Increased domestic consumption as well as investment in small- and medium-sized enterprises are needed to help drive economic growth. This will require major change, including...
...that's covered in Article II), but the legislature. In constitutional terms, Congress is a "co-equal" branch of government; it has real power, and so do its most significant members. Just as the wise men - Averell Harriman, Dean Acheson and the like - who remade international institutions at the end of World War II would not have been able to do what they did without the assistance of Arthur Vandenberg, the powerful chairman of the Senate Foreign Relations committee, so reform of the financial system today cannot bypass Representative Barney Frank, the chairman of the House Financial Services Committee...