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...more than $10 a barrel on June 6; China's Shanghai stock market plunged 7.7% on June 10, its steepest drop in a year. While investors and economists are worried about a number of economic headwinds, rising oil prices, said Merrill Lynch in a recent report, "pose the major growth and inflation risk for Asia going forward...

Author: /time Magazine | Title: Asia Hits an Oil Slick | 6/12/2008 | See Source »

...Despite the dose of economic realism that many governments are finally swallowing, there is one Asian country that has resisted any major easing of price controls. China has raised the retail price of diesel and gasoline by just 9% since January 2007. (Over the same period, the price in the U.S. has jumped 77%.) Observers say China will probably stand pat at the pump until after the Beijing Olympic Games in August. That could keep Chinese happily burning the midnight oil - and keep global oil prices high, since growing demand from China has contributed significantly to crude's price...

Author: /time Magazine | Title: Asia Hits an Oil Slick | 6/12/2008 | See Source »

...available in Paris with 4 Roues Sous 1 Parapluie (www.4roues-sous-1parapluie.com). The wry name - "Four Wheels Beneath an Umbrella" - recalls the brief given to the original 2CV designers, which was to create a cheap car for the masses. Tours include hotel pick-up, and take in the French capital's major sights as well as lesser-known attractions such as the Cité Fleurie - a 19th century artists' quarter. There are also romantic night tours that are especially popular with couples. But do remember to whisper in your partner's ear when the car has come to a standstill - otherwise your...

Author: /time Magazine | Title: Horsing Around | 6/12/2008 | See Source »

...appliances and call for replacing 15% of our gasoline with alternatives. These efforts will cut billions of tons of greenhouse gases. With the U.S. investing more than any other nation to advance new technologies, Sachs should join the country in urging the rest of the G-8 and other major countries to do their part. James L. Connaughton, Chairman, White House Council on Environmental Quality, Washington...

Author: /time Magazine | Title: Inbox | 6/12/2008 | See Source »

...potential students: wide shoulders, a calm demeanor and good vision. Ding fulfilled every requirement, even though he admits he's not a "very sporty boy." Training is often dull. In his first year at the school, the 14-year-old has been allowed to work on only one major aspect of archery: the release of the bowstring. But Ding isn't complaining. The Qingdao school has nice dorm rooms, helps students get into college and employs coaches who understand the virtues of rest and recovery time...

Author: /time Magazine | Title: China's Sports School: Crazy for Gold | 6/12/2008 | See Source »

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