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Faced with a $42 billion loss at RBS and credit markets which appear to become more frozen as each day passes, the U.K. will move its economic rescue package beyond the banks into the system of private debt...

Author: /time Magazine | Title: The UK Moves to Bail Out Everything | 1/19/2009 | See Source »

...apparently has told Vladimir Putin. Last month the Russian government announced an increase in tariffs on imported cars, sparking angry protests from motorists. The move is meant to support a local car industry that temporarily shuttered factories because of withering demand. "Now that our producers are forced to slash production, I think it is absolutely unacceptable to spend money on acquiring [imported] foreign cars," Putin said. In Indonesia, the government is slapping import restrictions on about 500 items. Importers will require licenses and can only bring in the goods through specified ports. The decree announcing the measures said they were...

Author: /time Magazine | Title: The Threat of a Global Trade War | 1/19/2009 | See Source »

...barge behind it. The ship, he said in the transcript, sailed for a day and a half into international waters, at which point it stopped and the navy men allegedly ordered the refugees to board the barge. "First, they pointed their guns at us but we still refused to move," Muzaffar said. "Our hands were already tied on the Navy ship, but this time they also tied the legs of some people and threw four of them into the sea." Those people, he said, drowned. The rest of the refugees, mostly Rohingya, boarded the barge. It had no motor...

Author: /time Magazine | Title: Abandoned at Sea: The Sad Plight of the Rohingya | 1/18/2009 | See Source »

...Bangladesh - a return to Burma would spell arrest and far worse. The Rohingya's lot in Burma is dire, says Sean Garcia, a consultant for the Washington-based Refugees International. "They are not allowed to survive," he says. Denied state documents, the Rohingya have to apply for permission to move from village to village, to repair a mosque, even to get married. Rohingya frequently fall victim to forced-labor drives by the military. The Burmese government, say Rohingya rights-groups, sees them as interlopers in the predominantly Buddhist land. Illiteracy rates in North Rakhine state, where the Rohingya...

Author: /time Magazine | Title: Abandoned at Sea: The Sad Plight of the Rohingya | 1/18/2009 | See Source »

...were so apparent only made it more annoying to some critics that he wouldn't turn his back on them. Virtuosity of that kind was something that we almost wanted to get off the table, an embarrassing reminder of pleasures that painting had to shed if it was to move forward into the brave new world of Modernism and everything that came after...

Author: /time Magazine | Title: Andrew Wyeth's Problematic Legacy | 1/17/2009 | See Source »

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