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...amount equivalent to the entire economy of the Netherlands in 2000. Once moribund countries such as Argentina and Russia are booming, too. Indeed, developing economies are doing much of the heavy lifting today. According to the World Bank, they collectively grew about 7% last year-more than twice as fast as high-income countries-and developing nations now account for 49% of world economic output, up from 39% in 1990. "For the first time in many decades, the global economy enjoys multiple sources of economic growth, of which the U.S. is not the most important," says Gail Fosler, chief economist...

Author: /time Magazine | Title: A Precarious Balance | 1/18/2007 | See Source »

...Paulson disagrees with that characterization. "No one [in Beijing] is saying 'everything's great, let's leave it alone,'" he says. "Their discussion is all about, 'how fast do we move?'" He and his boss in the White House are hoping China's leaders move decisively within the next two years, before Bush's term expires and a new Cabinet is appointed. Otherwise, Hank Paulson might be the last friendly face at the U.S. Treasury the Chinese see for a while...

Author: /time Magazine | Title: A Bridge over Troubled Water | 1/18/2007 | See Source »

...last July because of disagreements between the U.S. and the E.U. over subsidies to their farmers, while countries from Australia to India complain that the ways both giants use such supports are a major trade distortion. There's not much time left for a new deal, since the special "fast-track" authority to negotiate trade agreements, granted by U.S. Congress to President Bush, expires at the end of June. In an interview with Time's Leo Cendrowicz, Europe's chief trade negotiator assesses the situation...

Author: /time Magazine | Title: "We Are in the Endgame" | 1/18/2007 | See Source »

...Detailed maps of thousands of genes reveal the DNA blueprint that allows the brain to exist at all. More powerful psychoactive drugs let us understand the chemistry of the brain and fix it when it goes awry. In this issue, we catch up on the latest breakthroughs in this fast-moving field...

Author: /time Magazine | Title: Building Our Brain Trust | 1/18/2007 | See Source »

...impassioned, as urgent as a preacher's. His message: Etiquette builds better relationships. Boiled down, he says, Biz Et has three aims: "Think before acting, make choices that build relationships, and do it sincerely." The well-tailored young business crowd pays rapt attention. They are the Rutgers pharmacy students fast-forwarded five or 10 years...

Author: /time Magazine | Title: Manners Matters | 1/18/2007 | See Source »

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