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...When the Beijing students started gathering at Tiananmen that April, Hong Kong was galvanized. Local stars held fund-raising concerts and closed them with the song "We Love Freedom." News appeared incessantly across all media. Huge marches and rallies were held. "Eastern Europe is changing," I overheard someone telling my mother at the time. "When will China...

Author: /time Magazine | Title: Guarding History | 6/8/2009 | See Source »

...down from 55% as recently as 2001. In other words, Asia remains an export machine. Developing Asia's export share rose from 36% of pan-regional GDP during the financial crisis of 1997-98 to a record 47% in 2007. And recent research by the International Monetary Fund shows that Asian exports continue to be underpinned by demand from consumers in the industrial world - especially from the U.S. Despite a surge of trade within Asia, the bulk of these intraregional flows have been concentrated in parts and components that go into finished goods eventually consumed by developed economies...

Author: /time Magazine | Title: Kidding Ourselves About an Asian Recovery | 6/8/2009 | See Source »

...Whitney Museum of American Art in New York City and the San Francisco Museum of Modern Art. "What's clear is that there is a direct connection between economic recovery and cultural spending." Ross would like to see a federal rescue mission for the arts, a $250 million fund to stabilize museums and libraries. That would be only a small fraction of what we've just spent to bail out the banks, but the probability that Congress and the White House will be allocating that much additional money for cultural institutions is roughly zero...

Author: /time Magazine | Title: Culture Crunch: The Recession and the Arts | 6/8/2009 | See Source »

...early as 2005, in fact, high-end fashion houses like Burberry and Louis Vuitton were warning that profits from cheap reproductions of their desirable goods might be used to fund terrorist organizations. Many people were skeptical of alarm bells emanating from such well-heeled manufacturers until Interpol backed up the claims. "North African radical fundamentalist groups in Europe, al-Qaeda and Hizballah all derive income from counterfeiting," John Newton, an Interpol officer specializing in intellectual-property crime, told the London Times in 2005 when it came to light. "This crime has the potential to become the preferred source of funding...

Author: /time Magazine | Title: Knock It Off: A Thai Museum for Counterfeit Goods | 6/8/2009 | See Source »

...though Gandy doesn't envision her career path veering from hedge fund worker to full-time club deejay, she's not writing anything off at this point. "Stranger things have happened," says Gandy, who has also launched a small business strategy firm since being laid off. "I never thought I'd lose my job, and I did. All these people out there are now reinventing themselves. Why not reinvent yourself as a deejay...

Author: /time Magazine | Title: Why Deejay Schools Are Thriving in a Recession | 6/6/2009 | See Source »

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