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Graft was rife in construction projects long before the current downturn. "Public spending is already subject to considerable siphoning off and, perhaps even more critically, waste," says Andrew Wedeman, a political scientist and Chinese-corruption expert at the University of Nebraska. During the boom years, such waste mattered less because growth was so robust. But if China's GDP expands only 6% to 8% this year, as some predict, corruption could dampen recovery. "What really matters is not if funds will be siphoned off or how much will be siphoned off," Wedeman says, "but rather whether the siphoning will have...

Author: /time Magazine | Title: China's New Deal: Modernizing the Middle Kingdom | 6/1/2009 | See Source »

...strike inflames Pakistani public opinion against a pro-U.S. government that is at the point of collapse. "If we wind up killing a whole bunch of al-Qaeda leaders and, at the same time, Pakistan implodes, that's not a victory for us," says David Kilcullen, a counterterrorism expert who played a key role in developing the surge strategy in Iraq. "It's possible the political cost of these attacks exceeds the tactical gains." And yet Pakistani leaders like army Chief of Staff General Ashfaq Kayani seem to have concluded that using drones to kill terrorists in FATA...

Author: /time Magazine | Title: The CIA's Silent War in Pakistan | 6/1/2009 | See Source »

...Meanwhile, many union members fear this is only the beginning of the cuts that will be imposed on retirees, who were once promised health-care benefits for life. "This is very, very painful for the union," says Harley Shaiken, a labor expert from the University of California, Berkeley. "It's a huge risk because the VEBA could run out of money if these companies don't do well," he said...

Author: /time Magazine | Title: Why Detroit Retirees Have Health-Care Anxiety | 5/31/2009 | See Source »

...transitive property does not quite hold true when discussing wins, rankings, and team prowess, but that 85-78 destruction of the future NCAA Division I champs instilled confidence in BC. Led by offensive expert Tyrese Rice, who dropped 25 points on the Tar Heels, the Eagles were impervious in their previous 10 home games and boasted a 13-2 overall record before facing the easy-to-overlook, 7-6 Crimson, which had not beaten BC since before the turn of the millennium...

Author: By Emmett Kistler, CRIMSON STAFF WRITER | Title: UPSET GAME OF THE YEAR: Crimson Topples ACC Titan | 5/30/2009 | See Source »

Demauro declined to reveal how much money she won, but gambling experts estimate that if she made good bets, her winnings were probably in the hundreds of thousands; expert bets would have put them in the millions. Demauro and Capra spent the rest of their holiday weekend in Atlantic City, and even returned to the same craps table two nights later - but only as spectators. "The expectations were too high," she says. "I wasn't ready to be the shooter again...

Author: /time Magazine | Title: Holy Craps! How a Gambling Grandma Broke the Record | 5/29/2009 | See Source »

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