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...Next Asia will also have to come to grips with its inherent lack of coordination by exerting greater control over its fragmented economies, markets and political systems. China's four largest banks, for example, still have over 50,000 branches between them - branches that in many cases function autonomously with respect to deposit-gathering and lending policies. Such a fragmented banking system has long been a major complication for China's central bank and its execution of a coherent monetary policy. Asia's rural-urban dichotomy also creates a natural fragmentation to its social and economic fabric - underscoring ever widening...

Author: /time Magazine | Title: The Evolution of Asia | 10/12/2009 | See Source »

...called commodity supercycle and its ever higher price structure was a crushing burden on resource-intensive developing nations. The Premier urged China to focus more on what he called a "scientific development" strategy that would be based on improved efficiencies of resource consumption. Similarly, by warning of a lack of coordination, Wen was highlighting the fragmentation of the Chinese system - not just its banks and companies but also a system of governance that was still heavily dominated by power blocs at the provincial and local level. And his concerns over sustainability were specifically aimed at pollution and environmental degradation - unmistakably...

Author: /time Magazine | Title: The Evolution of Asia | 10/12/2009 | See Source »

...region steeped in a culture of saving, this will not be an easy transformation. Here again, China undoubtedly holds the key. Its legendary excesses of precautionary savings are traceable to two major developments: massive layoffs associated with over 15 years of state-owned enterprise (SOE) reforms and the lack of an institutionalized social safety net. With SOE reforms likely to be ongoing - albeit probably at a slower pace in the years ahead - China needs more aggressive initiatives in the areas of social security, pensions, medical care and unemployment insurance...

Author: /time Magazine | Title: The Evolution of Asia | 10/12/2009 | See Source »

...grinning kid in the back row of a sixth-grade classroom, smiling at the teacher as he mutters a rude observation about how she looks from behind. He's cartoon-animal round and ingratiatingly impish. Yet Gervais, in films and on TV, keeps harping on his diminutive stature and lack of a heroic jawline. He might almost be begging for the viewer to reply, "No, you're not at all tremendously unattractive. The word for you, Ricky, would be cute...

Author: /time Magazine | Title: Pants on Fire! The Inspired Invention of Lying | 10/12/2009 | See Source »

...concern spectators raised during the event was Khazei’s lack of political experience. Colin J. Motley ’10, president of the Harvard Republican Club, said, “people who hold state offices...have a step up” in this type of campaign...

Author: By Andrew Z. Lorey, CONTRIBUTING WRITER | Title: Democratic Senate Candidate Speaks in Adams House | 10/9/2009 | See Source »

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