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...capital or technology to exploit them. Once Chinese companies have a stake in oil coming out of the ground, even if it originates abroad, they'll have secured long-term supplies independent of the world's fickle prices. The process of overseas exploration began in 1997, when Premier Li Peng encouraged state-run oil concerns to look outside China's borders for investment opportunities, and in the past few years the search has ranged all over the world...

Author: /time Magazine | Title: China's Quest for Oil | 10/18/2004 | See Source »

...Thursday, according to Lieut. General Safdar Hussain, the regional commander, a shot was heard inside the house. Fearing that the militants were executing their captives, the general said, the commandos attacked. All five kidnappers were killed in the ensuing gunfight, along with one hostage, 32-year-old engineer Wang Peng, who died of gunshot wounds. His fellow captive Wang Ende, 49, was rescued alive. Meanwhile, Mesud was several kilometers away, in touch with his men via radio. Before he escaped the area, Mesud told journalists invited to his lair: "We will fight America and its allies until...

Author: /time Magazine | Title: Out of Captivity | 10/18/2004 | See Source »

...million to $200 million a year; the economic impact of another SARS outbreak, however, was immeasurable. Zhong called on Jan. 4 and later that day an order was issued to launch a campaign to eradicate civets from the province's farms and markets. By the next morning, said Peng Shangde, deputy director of the Guangdong Forestry Department, "we were staffed and the trucks were rolling...

Author: /time Magazine | Title: The Race To Contain A Virus | 1/19/2004 | See Source »

...made that call on Sunday. He can be very persuasive: the order was given later that day to the Guangdong Health Department and the Guangdong Forestry Department, among other agencies, to launch a campaign to eradicate civet cats from the province's farms and markets. By Monday morning, said Peng Shangde, deputy director of the Guangdong Forestry Department, "we were staffed and the trucks were rolling...

Author: /time Magazine | Title: Averting an Outbreak | 1/11/2004 | See Source »

...perhaps not. Taiwan's tensions with China are once again reaching boiling point, raising the distant but real possibility that Wong's stint in the army might be anything but dull. Last week, a People's Liberation Army general, Peng Guangqian, warned that China is willing to wage war with Taiwan to prevent it from declaring independence?whatever the cost. Writing in a Beijing journal controlled by the Chinese Communist Party, Peng said China would brave a boycott of the Olympic Games, a drop in foreign investment, an economic downturn, even regional instability in order "to uphold national unity...

Author: /time Magazine | Title: Taking It to the Brink | 12/8/2003 | See Source »

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