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...China has been able to draw upon a huge reserve of rural labor. People have moved from rural China to a number of large industrial cities in the interior of the country, many of which now have populations in the millions. Factory complexes were built in these same areas. As long as demand for output moved up, the labor forces in these regions grew. China created its own middle class which made and consumed goods at record rates...

Author: /time Magazine | Title: The Last Pillar of the Chinese Economy Falls | 1/12/2009 | See Source »

...than its artwork. On Monday afternoon, the board of Air France-KLM approved a deal to acquire a 25% stake in the Italian carrier for $414 million. Linking up with another major foreign airline was widely considered the only way that Alitalia could survive following years of cost overruns, labor unrest and political meddling that has led to more than $3 billion in state aid since 1998. (See pictures from Italy...

Author: /time Magazine | Title: Why Air France-KLM Bought 25% of Alitalia | 1/12/2009 | See Source »

...change in Merkel's thinking was forced by the acceptance of economic and political realities. The German economy is sinking faster than most experts thought a month ago. Just this week, Germany's three-year job boom came to a screeching halt when the labor office reported that in December unemployment rose by a seasonally adjusted 18,000, nearly twice the level predicted in a poll of 30 economists by the news agency Bloomberg. It was the first increase in joblessness since February 2006. "The economic crisis has reached the labor market," said Frank-Juergen Weise, head of the Labor...

Author: /time Magazine | Title: Merkel Moves to Heat Up German Economy | 1/8/2009 | See Source »

...approach followed to enact the social security reform is noteworthy. The July 2008 National Assembly session enacted a preliminary bill that the population would discuss. At the December 2008 National Assembly session, the Labor Minister reported that 99.1 percent of the 3,057,568 participants in assemblies convened to discuss the bill had approved it. This was no doubt aided by the government’s full use of its ownership and operation of all the mass media to defend the policy changes in the absence of counterarguments. Nor should there be doubt that the substantive policy change was necessary...

Author: By Jorge I. Domínguez | Title: The Castro Regime at Age 50 | 1/8/2009 | See Source »

...Popular Front for the Liberation of Palestine-General Command (PFLP-GC), which may have acted with a nudge and a wink from Hizballah. Hizballah, Hamas and other Palestinian groups denied responsibility. "When Hizballah does something, it announces it and has no problem doing so," says Mohammed Fneish, minister of labor in Lebanon's national unity government and also a Hizballah lawmaker. (See pictures from inside Hizballah...

Author: /time Magazine | Title: Who Fired on Israel from Lebanon? | 1/8/2009 | See Source »

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