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...Chinese officials hope he's right, because the country's policy options are limited. A rate hike would likely only increase the flow of speculative "hot money" into the country from abroad, says Jing Ulrich, chairman of China equities at JP Morgan. And excess liquidity (read: too much money chasing too few goods) is at least partly to blame for China's rising-prices problem. Although some say the July spike was due to short-term food shortages, the increases "are a lot less temporary than some people think," argues Michael Pettis, a professor of finance at Peking University. "China...

Author: /time Magazine | Title: Too Much of a Good Thing | 8/16/2007 | See Source »

...Nine years before Rosa Parks' defiance set off the Montgomery, Ala., bus boycott, Irene Morgan Kirkaldy, a black woman returning to Baltimore from Virginia, refused to cede her seat on a crowded Greyhound bus to a white person. Having kicked the policeman who removed her from the bus, she pleaded guilty to resisting arrest but refused to pay a $10 fine for violating Virginia's Jim Crow laws. Her case, argued by NAACP lawyers Thurgood Marshall and William Hastie, worked its way to the Supreme Court, which in 1946 ruled segregation on interstate buses unconstitutional...

Author: /time Magazine | Title: Milestones Aug. 27, 2007 | 8/16/2007 | See Source »

...Morgan nonetheless stayed with the agency, serving as a roving ambassador for space flight and remaining, in name at least, a Teacher in Space designee. Under NASA's newer, stricter flight eligibility rules, however, the only way she could ever get her chance to fly would be to quit the teaching profession and become a professional astronaut, relegating kids' education from space to a much more incidental part of her responsibilities. She applied for a slot and in 1998 was selected; she is now flying as a mission specialist, responsible for operating the robotic arm of both the shuttle...

Author: /time Magazine | Title: Why Is This Teacher in Space? | 8/9/2007 | See Source »

...been promising big payoffs from the ISS - advances in biomedical research, for example, and in materials manufacturing - since President Ronald Reagan first proposed it in 1984, and has never been able to deliver. Meanwhile, the shuttle Columbia claimed the lives of another seven astronauts in 2003, a disaster Morgan was once again on hand to witness, this time as capsule communicator, in Mission Control...

Author: /time Magazine | Title: Why Is This Teacher in Space? | 8/9/2007 | See Source »

...Morgan, meantime, will fulfill McAuliffe's legacy, if in a slightly new capacity. No longer a Teacher in Space, but now an "Educator Astronaut," she will teach at least one live lesson from orbit, and up to two more if the mission is extended from 11 to 14 days, as it might be. She is also carrying a cargo of 10 million cinnamon basil seeds (a figure she playfully rounds up to "a kazillion,"), which will be distributed to schoolchildren to grow post-flight, so that they can observe any anomalies that might be attributable to the stint in weightlessness...

Author: /time Magazine | Title: Why Is This Teacher in Space? | 8/9/2007 | See Source »

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