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...world's cement, 31% of the world's coal and 27% of its steel last year, helping drive up prices for many commodities, such as metals, by 50%. But prices have been falling for several weeks, to the delight of many. Jeffrey Sheu, spokesman for Taiwan-based bicycle maker Giant Manufacturing, applauds China's efforts to rein in the economy, because rising materials costs have eroded profit margins. Not only that, Giant, which operates three factories on the mainland and sells to Chinese consumers, hopes that tougher lending rules will prevent additional entrepreneurs from entering the business. "The bicycle industry...

Author: /time Magazine | Title: Time to Cool Down | 5/17/2004 | See Source »

...shortages and inventory disruptions. A respite from the insatiable dragon will give them an opportunity to reload. Says a spokeswoman for POSCO, Korea's largest steel company, "These constraints will have a short-term negative influence, but long-term, this is actually progress." Likewise, Japan's and Korea's giant electronics conglomerates are sanguine. Toshiba, for example, sold $1.3 billion worth of goods in China last year, so "obviously we are concerned about a drop in sales," says Junichi Nagaki, a spokesman for Toshiba. But he notes that global operations, such as Samsung, Sony and Toshiba, are diversified internationally...

Author: /time Magazine | Title: Time to Cool Down | 5/17/2004 | See Source »

...call has never been so loud or urgent: Tony Blair, a growing number of Britons say, must take a giant step away from George W. Bush before it is too late. It was bad enough that the case for war crumbled with the failure to find weapons of mass destruction and the increasing hostility of many Iraqis toward their occupiers. But with the revelations of torture and humiliation by American soldiers at Abu Ghraib prison - and their unhappy echo in tales of abuse by some British soldiers - Britain's self-respect and image in the world is on the line...

Author: /time Magazine | Title: Collateral Damage | 5/16/2004 | See Source »

While Akira's bejeweled Bonds singlets, eggwhite-stiff linen suits and goatskin man-bags comprised only a sixth of his collection last week, it was a gently giant step for Australian menswear - or should that be unisex wear? "Within women's ready-to-wear collections there are limitations - how many styles can we create?" says Akira, who first showed his reconstructed Aussie male icons last year. "Designers are looking for different lines." If the recent Fashion Week in Sydney is any guide, they are increasingly looking to menswear. New labels popped up as frequently as gelled '80s hairdos while, taking...

Author: /time Magazine | Title: Trousers on the Prowl | 5/12/2004 | See Source »

...happy, then, to see Campbell's tomato-soup cans with labels inspired by his famous silkscreens lining supermarket shelves. Through a licensing agreement with the Andy Warhol Foundation, Campbell's has introduced limited-edition cans in four color combinations, selling for $2.99 a four-pack exclusively at Giant Eagle supermarkets. This is the first time Campbell's has deviated from its red-and-white label since it was introduced in 1898. And with a run of 300,000 cans, each with a copy of Warhol's signature, just wait. Pretty soon tomato soup will be for sale on eBay...

Author: /time Magazine | Title: Style: Tomato Soup With a Side Of Pop Art | 5/10/2004 | See Source »

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