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...worried about a China bubble? The definite risk was that they were expanding and stimulating so rapidly, it was getting out of control, and that speculation, particularly in real estate, was going to be a real problem. But the latest data suggests just the opposite. While the bears are talking bubble, the new numbers show that industrial production slowed in the most recent month, and also that the volume of new loans made in July was down pretty dramatically. That's good news. (See pictures of the global financial crisis...
...while the latest good news was a pleasant surprise, there's a lot more work to do. And recognizing that would be the best gift Europe could give itself...
Even as a boy watching the first moon landing on TV, Brian Clegg remembers wondering, "How did it all begin?" In his latest book, Before the Big Bang, the Cambridge-educated writer examines the theories that physicists and philosophers alike have put forth to explain how we got here. TIME spoke with Clegg about science as a social network, thinking outside of the box without losing his mind, and using Buffy the Vampire Slayer to explain Einstein. (See the top 10 non-fiction books...
...plenty of people willing to work for less money. But in other recent recessions salary growth hasn't slowed this much. Going back to the early 1990s, base salaries never increased by less than 3.4% a year, according to Hewitt, which polled 1,156 large companies to get its latest data. Companies desperate to slash costs are turning to worker salaries more deliberately than they have in the past. Some 48% of companies have frozen salaries this year, compared to just 2% last year. (See 10 things to buy during the recession...
...many, this latest judgment has come too late, and Scheungraber's trial has sparked debate in Germany over why prosecutors took so long to press charges. But most Germans are relieved that the pensioner has finally been called to account for the crimes he committed while he was a young soldier. The ruling has symbolic significance in Germany, which feels a collective sense of moral responsibility toward victims of Nazi massacres. Norbert Frei, a historian at the Friedrich Schiller University in Jena, summed up the nation's mood when he said during an interview with radio station Bayerischer Rundfunk: "Even...