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...more attractive. There are production challenges: many of the reserves are located in remote locations deep in Siberia or above the Arctic Circle. Russia's Minister for Natural Resources, Yuri Trutnev, has cautioned that extracting Russian oil will become increasingly difficult. Nonetheless, the Western oil companies are eager to export Russia's reserves, which are conservatively estimated at 70 billion bbl. - more than double those...

Author: /time Magazine | Title: Power Play | 11/28/2004 | See Source »

...production challenges: many of the reserves are located in remote locations deep in Siberia or above the Arctic Circle, and transport depends on clunky Soviet-era railways and pipelines whose leaks are frequently decried by Greenpeace and other environmental activists. Nonetheless, the Western oil companies are eager to export Russia's oil reserves, which are conservatively estimated at 70 billion bbl.--more than double those...

Author: /time Magazine | Title: Russia: Power Play | 11/22/2004 | See Source »

...growth forecast for the region (excluding Japan) to 5.5%, compared with 7.2% in 2004. The main culprits are the record-high price of oil, an expected weakening of the U.S. economy and an ailing dollar, which makes Asian products more expensive for U.S. consumers and curbs export growth. But a new factor putting the brakes on Asia is China. Over the past two years, soaring demand from China for everything from steel to palm oil to semiconductors has been the engine driving Asian economies. Fear of overheating, however, has forced Beijing's policymakers to curtail bank lending and new investment...

Author: /time Magazine | Title: An Agenda for Asia | 11/4/2004 | See Source »

...these shifts occurred. Sept. 11 changed everything, including Bush. And you can see how a recession prompted Bush to spend more money while he was lowering taxes at the same time. But the postwar reality in Iraq has also proved some conservative instincts right: it is indeed hard to export democracy where none has existed. And it is hard to keep order in a huge, unstable country with dangerously low troop levels. As for Bush's spree of spending and borrowing, as baby boomers face retirement and Medicare and Social Security begin to bust the budget, his lack of discipline...

Author: /time Magazine | Title: Why the Old Labels Don't Stick | 11/1/2004 | See Source »

...Shahzad Arshad, a leading apparel exporter in Pakistan, says he fears a disaster looms for his industry. Pakistan has been one of the main beneficiaries of the current system. When China and India maxed out on their annual quotas, American buyers often turned to Pakistan. Its garment industry earned two-thirds of the country's export dollars last year. But Arshad fears that at least 60% of the 2 million Pakistanis who work in the ready-made garments sector could lose their jobs in coming years. "The new regime will wipe out thousands of small and medium-size exporters," says...

Author: /time Magazine | Title: Hanging by a Thread | 10/25/2004 | See Source »

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