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...Persian Gulf, its oil probably won't make the region an economic powerhouse. There should be a commitment by all stakeholders to redistribute oil wealth among Africa's people. The oil-rich states should stop channeling the proceeds from oil sales into the bank accounts of the ruling élite while the majority of their citizens suffer economic stagnation and social deterioration. That pattern fuels only political instability. Oluwole Akinbi, lagos...

Author: /time Magazine | Title: Inbox | 7/5/2007 | See Source »

...1940s and '50s: both arms (twice), his collarbone (three times) and 27 bones in his face. After breaking a hand during a ride, he switched to the other one and won. His celebrity expanded in the early '80s when he sparred with Billy Martin in TV ads for Miller Lite. Of his medical adventures, Shoulders said, "You just learned to heal real quick...

Author: /time Magazine | Title: Milestones Jul. 9, 2007 | 6/28/2007 | See Source »

Since the beginning of that war, a new élite--the siloviki from the FSB (the renamed KGB) and the subservient new economic oligarchs--has come to dominate policymaking under Putin's control. This new élite embraces a strident nationalism as a substitute for communist ideology while engaging in thinly veiled acts of violence against political dissenters. Putin almost sneeringly dismissed the murder of a leading Russian journalist, Anna Politkovskaya, who exposed crimes against the Chechens. Similarly, troubling British evidence of Russian involvement in the London murder of an outspoken FSB defector produced little more than official Russian ridicule...

Author: /time Magazine | Title: How to Avoid a New Cold War | 6/7/2007 | See Source »

...consequence, two dominant moods now motivate the Kremlin élite: schadenfreude at the U.S.'s discomfort and a dangerous presumption that Russia can do what it wishes, especially in its geopolitical backyard. The first has led Moscow to take malicious slaps at America's tarnished superpower status, propelled by feel-good expectations of the U.S.'s further slide. One should not underestimate Russia's resentment over the fall of the Soviet Union (Putin has called it the greatest disaster of the 20th century) and its hope that the U.S. will suffer the same fate. Indeed, Kremlin strategists surely relish...

Author: /time Magazine | Title: How to Avoid a New Cold War | 6/7/2007 | See Source »

...corruption. The government's own anticorruption watchdog, the Economic and Financial Crimes Commission, estimates that between independence in 1960 and 1999, the country's rulers stole $400 billion in oil revenues - equal to all the foreign aid to Africa during the same period. And while a small élite became rich, its members fought one another for the spoils. In 47 years, Nigeria has suffered a civil war that killed a million people, 30 years of military rule and six coups. Meanwhile, two-thirds of the country's 135 million people remain in poverty, a third are illiterate...

Author: /time Magazine | Title: Africa's Oil Dreams | 5/31/2007 | See Source »

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