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...their purchase of U.S. debt. That would begin a lethal exchange between the greatest exporting and importing nations of the world, with America blocking the inflow of Chinese goods and China flailing back by throttling its appetite for Treasuries. Without the ability to borrow money at reasonable rates any hope of continuing to stimulate the U.S. economy would flag and China's manufacturing machine would lose its largest market...

Author: /time Magazine | Title: The Financial Crisis: The World At War | 3/3/2009 | See Source »

...weapons procurement at the Pentagon. Carter, who has been an outspoken critic of wasteful and excessive defense spending, brings an already-impressive resume to the position, having served as assistant secretary of defense for international security during the Clinton administration. We applaud Obama’s wise selection and hope that Carter’s nomination signals a major change in the Defense Department’s procurement policy. The selection of Dr. Carter is especially wise given the acute economic crisis. In January, President Obama inherited an inefficient national-security apparatus that has become accustomed to bloated budgets...

Author: By The Crimson Staff | Title: Harvard at the Pentagon | 3/2/2009 | See Source »

...flight toilets. It wasn't clear whether CEO Michael O'Leary was serious about implementing the fee, which he said would help lower ticket costs, or just courting media attention. Europeans may be accustomed to paying for using the facilities on trains and in public places, but let's hope domestic carriers don't latch on to the idea...

Author: /time Magazine | Title: Agatha Christie's Private Escape, and Other Travel Goodies | 3/2/2009 | See Source »

...What other option is there? Israelis may feel they are left with unilateral options: take control of most of the West Bank, let Jordan take care of other parts; hope Gaza will go under international or Egyptian control. Hamas advocates one state through military means. Some secular Palestinian élites who oppose military means advocate a one-state solution in which Jews and Arabs are equal. So the consequence is most likely indefinite conflict...

Author: /time Magazine | Title: What the Middle East Needs from Hillary Clinton | 3/2/2009 | See Source »

...take a decision in real time. If they had stormed the compound and it had gone wrong, it could have been an even worse catastrophe," says Brig. Gen. Shahedul Anam Khan, an ex-senior army officer and an authority on strategic affairs. Now, the Prime Minister has to hope that the investigation supports her decision - and that new revelations do not exacerbate the carefully calibrated relationship between an army used to taking charge and the new civilian government...

Author: /time Magazine | Title: After the Mutiny, Questions About Bangladesh's Army | 3/2/2009 | See Source »

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