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...Whether Bush?s arguments persuade Hu probably won?t be apparent until early May, when the U.N. Security Council is expected to convene on the Iran issue. At that time, diplomats from the U.S. and like-minded European nations plan to push a tough resolution demanding that Iran abandon its nuclear ambitions or face sanctions. U.S. officials aren?t counting on the votes of China and Russia, but if the pair merely abstains rather than exercises its vetoes, the resolution is likely to pass...

Author: /time Magazine | Title: Can the President Win China's Support on Iran? | 4/20/2006 | See Source »

...huge shift of wealth and power to Asia is thus taking place, leading to an unprecedented situation in economic history. In the past, it was always the rich countries that financed economic development in emerging economies. European capital built canals and railroads in the 19th century U.S. economy; in the 20th century, European and American money bankrolled development in Latin America, Australia and Asia. But today, it's the poor countries?notably China?that are financing American consumption by purchasing U.S. government bonds. No wonder that with their vast liquidity, stock markets in many developing countries have vastly outperformed...

Author: /time Magazine | Title: Wealth on the Wing | 4/17/2006 | See Source »

...perimeter, and civilian vehicles may not enter the airport gates, where baggage searchers wear ski masks to hide their faces. Flights from the new Kurdistan Airlines and other carriers arrive directly from Istanbul, Frankfurt, Dubai and Beirut. Austrian Airlines officials have agreed the company will be the first European airline to fly to Arbil, with three Vienna flights a week scheduled to start sometime this year. That's just the start. A sprawling $200 million airport is being built on the existing grounds and is scheduled to open next year. Its 4.8-km runway will be wide enough to land...

Author: /time Magazine | Title: The Race to Tap The Next Gusher | 4/16/2006 | See Source »

Prefab housing. The very name conjures up boring little boxes that might be cheap but hardly chic. But now a whole range of sleek, modular factory-built designs are hitting the European market. The cutting-edge domiciles are quick to assemble, energy efficient and fitted with cool customized features. Here's a peek at some of the more intriguing prefab abodes and holiday hideaways. THE LOFTCUBE - STUDIO AISSLINGER www.aisslinger.de Inspired by Berlin's postwar high-rises, the Loftcube can be craned or helicoptered onto your rooftop as an open-space pied-à-terre or office. The "personal home container...

Author: /time Magazine | Title: Absolutely Prefabulous | 4/16/2006 | See Source »

Since taking power on March 29, Hamas, refusing to recognize Israel's right to exist, has been scrambling to respond to the chief consequences of victory: a freeze in funding to the Palestinian government by the U.S. and many members of the European Union. For now, Hamas leaders, facing dwindling postelection optimism, can be glad that popular frustration and anger are pointed at Israel, the U.S. and Europe. Flexibility on the part of the international community would ease their difficulties, but meanwhile Hamas must find a way to stem the crisis or risk having opprobrium turned...

Author: /time Magazine | Title: The Tomatoes of Wrath | 4/16/2006 | See Source »

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