Word: japanned
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...years to resolve. U.S. consumers are undergoing their own debt workout, one that might even worsen if joblessness continues to rise. Though defaults on credit cards in the U.S. fell in October, delinquencies, or late payments, rose - a sign that financial firms could expect more losses down the road. Japan, which experienced its fastest growth in two years in the third quarter, is dealing with the nasty problem of deflation, an indication that the economy is suffering from excess capacity. The falling prices, by eating away at the financial health of companies, could lead to more downsizing and slower growth...
...into a U.N.-run REDD fund that would protect priority areas of deforestation in Indonesia, Congo and the Amazon. A $40 billion - a-year fund "could get us to zero deforestation by 2020 - globally," says Kessler. But will rich nations cough up that much? The U.S., the E.U. and Japan are all "willing to put money on the table" for REDD, he adds. "Just to put it into perspective, $40 billion is about a quarter of what the U.S. gave in bailout funds to one insurance company, AIG. The money is there. It's just a question of political will...
...filmmakers from 25 countries will sprawl across QAG and GoMA from Dec. 5 to Apr. 5. Admission is free, and there's a plethora of satellite events, including a Kids APT, concerts, lectures and a cinema program featuring directors Ang Lee (Taiwan), Rithy Panh (Cambodia/France) and Takeshi Kitano (Japan). (See pictures of Australia's hidden islands...
...exactly two minutes after midnight on Jan. 1, 2000, an alarm sounded at a nuclear power plant in Onagawa, Japan. Government officials and computer scientists around the globe held their breath. Was this the beginning of a massive Y2K computer meltdown? Actually, no. It was an isolated event, one of a handful of glitches to occur (including the failure of 500 slot machines at two racetracks in Delaware) as the sun rose on the new decade. The dreaded millennial meltdown never happened...
...example of the change has been the Obama Administration's scrapping of what had been known as the quadrilateral initiative, a loose alliance between Washington and three other prominent democracies in the region - India, Japan and Australia - that staged joint naval exercises in 2008. China saw the initiative as designed to create a security bloc to contain it, and in the interests of improving relations with Beijing, Obama has declined to pursue it. (Read "The India Model...