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...current recession recently as one caused by a "perfect storm of irresponsibility and poor decision-making that stretched from Wall Street to Washington to Main Street." Yet the Obama phenomenon could be brewing a more perfect storm, wherein an F.D.R.-L.B.J. - style government would promote intrusions that could inflict great social, political and economic devastation on us. Daniel B. Jeffs, Apple Valley, Calif...

Author: /time Magazine | Title: Inbox | 5/25/2009 | See Source »

...unification. People in Taiwan "still have a lot of doubts about China," Ma says. "They fear [the mainland Chinese] way of life is not something they can accept." Though Ma may be bridging the gap with China faster than anyone could have expected, one year - even one of great progress - can't erase 60 years of animosity...

Author: /time Magazine | Title: Building Bridges to China | 5/25/2009 | See Source »

...contrast, Saudi Arabia's institutional memory of the boom and bust cycle served it well during what was the kingdom's third great oil boom of the past four decades. After the high prices of the 1970s, Saudi Arabia's economy went through a long-drawn-out slowdown as oil revenues plummeted for most of the 1980s. After a spike when Iraq invaded Kuwait, prices weakened again in the 1990s, even as Saudi struggled to pay off its (large) chunk of the bill for the first Gulf War. At the height of the Asian financial crisis in 1998, oil prices...

Author: /time Magazine | Title: Saudi Arabia's Lessons Learned | 5/25/2009 | See Source »

Jury Prize (third place, tie): Fish Tank, Great Britain, directed by Andrea Arnold, and Thirst, South Korea, directed by Park Chan-wook...

Author: /time Magazine | Title: Haneke's The White Ribbon Wins Cannes Palme d'Or | 5/24/2009 | See Source »

...director at the top of his puckishly anarchic form, won a Life Achievement Award - which is Palme-speak for Thanks for Not Dying Quite Yet. After 60 history-making years in film, he deserved better, as did Suleiman and Almodóvar. Guys, we love ya, you're great, but you're no Brillante Mendoza...

Author: /time Magazine | Title: Haneke's The White Ribbon Wins Cannes Palme d'Or | 5/24/2009 | See Source »

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