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...People's Republic of China commemorates its 60th anniversary, it seemingly has much to celebrate. China is the world's most populous and industrious nation, is the world's third largest economy and trading nation, has become a global innovator in science and technology, and is building a world-class university system. It has an increasingly modern military and commands diplomatic respect. It is at peace with its neighbors and all major powers. Its hybrid model of quasi-state capitalism and semidemocratic authoritarianism - sometimes dubbed the "Beijing Consensus" - has attracted attention across the developing world...
...Three decades later, the world witnesses the extraordinary results. China is now the world's third largest economy, after the U.S. and Japan, and recently surpassed Germany as the largest exporting nation. Its GNP is on course to overtake Japan's by 2010 and perhaps that of the U.S. by 2020. (Read "Why the China-U.S. Trade Dispute Is Heating...
...result of its economic boom, China has amassed a staggering $2 trillion in foreign exchange - the largest reserves in the world - and is beginning to invest significant amounts abroad. Today, 37 Chinese multinational corporations rank among FORTUNE's top 500 global companies, up from just six a decade ago, while 450 out of the FORTUNE 500 American companies have production lines and a business presence in China. China has become the world's largest recipient of foreign direct investment. To fuel its economic boom, China's voracious and insatiable appetite for raw materials has led it to absorb large amounts...
...carpal tunnel syndrome, and develop depression and anxiety, among other things. Cash's private practice is located in Redmond, Wash., the home of Microsoft - not an entirely surprising hub of compulsive Internet and video-game use, she says. Indeed, the Seattle-Tacoma area is the nation's 13th largest media market, and has the highest level of Internet use in the country; according to a recent study, more than 45% of adults in the area regularly play video games. "There's nothing wrong with this technology," says Cash, who is careful to note that it's not the medium that...
...typically propped up airlines to maintain routes and the number of airports - which are often a source of local pride rather than a reflection of traveler demand. "Basically, the country is losing money to save the network," Hosaya says. Soon it may be losing money to save its largest airline...