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...American faith in the transformative power of China's economic rise might be misplaced. Capitalism with Chinese characteristics places far more power and wealth in the hands of the state sector than what has ever occurred in countries such as Japan and South Korea. Beijing is nurturing state-owned champions to dominate domestic markets and crowd out the private sector in order for the Chinese Communist Party (CCP) to keep its economic relevance, privileged status in Chinese society and hands on the country's wealth. This means the CCP does not believe sweeping economic, much less political, liberalization is required...

Author: /time Magazine | Title: Perception Gap | 3/8/2010 | See Source »

...internally weak China has largely pursued win-win economic relationships to appease a nervous region. But if its domestic example is anything to go by - where the authority of the CCP to wield power and control resources is absolute and dissent is harshly treated - a dominant Middle Kingdom might show little future restraint in the relentless quest to enhance China's national power...

Author: /time Magazine | Title: Perception Gap | 3/8/2010 | See Source »

...India's truly successful actors have no time to think about branching out into Hollywood - their domestic demands are just too great. Khan could because he had time to spare. Had Khan had better looks for the Indian industry or been given a break in mainstream cinema earlier, Time might not have had the opportunity to introduce him to its global audience. Premdayal Gupta Indore, India

Author: /time Magazine | Title: Inbox | 3/8/2010 | See Source »

...getting marijuana off Coloradans' minds might be tougher. The state has a waiting list 20,000 names long for the medical-marijuana cards that users must show at dispensaries. It's difficult to turn on local radio or TV without hearing about pot. Realtors assess how dispensaries affect local property values. Veterans debate pot's usefulness in treating posttraumatic stress disorder. In November, Westword, Denver's alternative weekly newspaper, hired a pot critic. (Watch a video about medical-marijuana home delivery...

Author: /time Magazine | Title: Postcard from Denver | 3/8/2010 | See Source »

Because the author was a would-be Madoff whistle-blower, you might expect his anger to be pointed at the Ponzi king. In fact, the unrelenting Markopolos aims it at the Securities and Exchange Commission. For 10 years, the author, a quantitative analyst, tried unsuccessfully to convince the agency that Madoff was a crook. When the latter's racket was revealed in 2008, says Markopolos, "it was exactly as I had warned the government of the United States approximately $55 billion earlier...

Author: /time Magazine | Title: Business Books | 3/8/2010 | See Source »

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