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...pleased many governments. Between 2003 and 2008, Chinese direct investment overseas skyrocketed - rising from $75 million to $5.5 billion in Africa, 1 billion to $3.7 billion in Latin America and jumping from $1.5 billion to $43.5 billion in Asia. The People's Republic now ranks as the No. 1 foreign investor in countries as diverse as Sudan and Cambodia. In exchange for the natural resources needed to feed China's economic engine, Beijing began an assiduous campaign to win foreign hearts and minds by financing stadiums, hospitals and lavish government offices. The Foreign Ministry in East Timor was built courtesy...

Author: /time Magazine | Title: The World of China Inc. | 12/7/2009 | See Source »

...most backward parts of one of the world's least developed nations, the Ramu mine has emerged as an acute example of resentment against China Inc. In 2004 P.N.G. Prime Minister Michael Somare returned home from Beijing, triumphant at having snared the country's largest foreign-investment project to date. The euphoria was short-lived. Landowners brandished slingshots and announced they wouldn't sign off on their tribal territory being used for mineral extraction, no matter what document was signed in China's Great Hall of the People. Environmentalists cried foul over plans to deposit mine waste in the sparkling...

Author: /time Magazine | Title: The World of China Inc. | 12/7/2009 | See Source »

...eastern half of the world's second largest island, P.N.G. is the most linguistically diverse region of the world, with at least 800 distinct local languages spoken by just 6.5 million people. Yet despite the tribal diversity, the nation is unified in at least one aspect: suspicion of foreign exploitation of its plentiful resources, ranging from natural gas and timber to fisheries and gold. Tensions exploded in the 1990s on the P.N.G. island of Bougainville, where concerns over the environmental and economic effects of an Anglo-Australian-run copper mine sparked a secessionist struggle that claimed 15,000 lives over...

Author: /time Magazine | Title: The World of China Inc. | 12/7/2009 | See Source »

...credible alternative, Washington will use Karzai's dependence on the West for funding and security to pressure him to deliver the sort of governance that can win popular support. But Karzai's government is widely seen as corrupt, ineffective and a tool in the hands of a foreign invader, and Afghans are mostly gloomy about the prospects for reforming it. While Karzai could be forced to respond to some egregious cases of corruption, his instinct will be to continue to use the power of patronage to broker local support. Corruption and nepotism may be just as much as a symptom...

Author: /time Magazine | Title: Five Flawed Assumptions of Obama's Afghan Surge | 12/6/2009 | See Source »

...when the U.S. goes. The Pakistanis, for their part, want to ensure that the U.S. leaves on the basis of a deal with the Taliban that replaces the present government, which is too close to India for Islamabad's comfort. And the Taliban - like any indigenous insurgency confronting a foreign military - knows that time is on its side...

Author: /time Magazine | Title: Five Flawed Assumptions of Obama's Afghan Surge | 12/6/2009 | See Source »

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