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...Because both Chinalco and Minmetals are state-owned companies, the deals face significant regulatory scrutiny in Australia, but are likely to go through with few major problems. Kevin Rudd, the prime minister, is a fluent Mandarin speaker who had made it clear that solid ties to Beijing are among his top priorities. And with the mining industry now flat on its back as the global recession deepens, it's unlikely Canberra will go out of its way to insult the only people around who have some money left in their pockets - and the willingness to spend...

Author: /time Magazine | Title: China Buys Australia On the Cheap | 2/17/2009 | See Source »

...unclear what Mohammed's precise role will be, or how much leverage he has in Swat. The militant leader emerged as a force in the mid-1990s, when his loyalists, sporting black turbans, seized control of buildings and courthouses before the government of then Prime Minister Benazir Bhutto was able to tame the revolt and sign a truce. In late 2001, Mohammed led thousands of young men - including Fazlullah - to Afghanistan to fight the Western forces that had invaded in the wake of the 9/11 attacks. Upon their return, Mohammed was arrested and imprisoned. His release last year was contingent...

Author: /time Magazine | Title: Pakistan's Shari'a Pact: Giving In to the Taliban? | 2/17/2009 | See Source »

...appears to be drunk, has been painfully public on the YouTube video of a G7 press conference in Rome last week. Today, it finally cost him his job. At a press conference in Tokyo, he resigned from his cabinet post, delivering yet another blow to the administration of Prime Minister Taro Aso as he struggles to keep control of his party and deal with the country's ever-worsening economic crisis...

Author: /time Magazine | Title: Japan's 'Drunk' Finance Chief Steps Down | 2/17/2009 | See Source »

...game of Go, will now wear three hats in Aso's government, running the ministries of economy and finance and the Financial Services Agency, which oversees banking. A fiscal conservative, Yosano was runner-up to Aso in the LDP elections last September. If things get much worse for the Prime Minister, there is even talk that Yosano could become the new head of the party and lead it into upcoming general elections. How well this bodes for the struggling LDP remains to be seen; the last time that Yosano and Ozawa played Go, Ozawa...

Author: /time Magazine | Title: Japan's 'Drunk' Finance Chief Steps Down | 2/17/2009 | See Source »

...found by other submarines and spy planes. "There are oceanographic factors in which you can be on either side of an ocean front where the temperature is slightly different on your side than the others," says Ferguson. "Where the gulf stream comes across the Atlantic is a prime point of this. Sometimes these barriers can be quite hard - no sound penetrates at all. And if your business is hiding, then you would hide in that vicinity. There is an added risk that, given the environmental factors, maybe you don't hear another submarine in time to do something about...

Author: /time Magazine | Title: Did France's Secrecy Cause a Nuclear-Sub Collision? | 2/16/2009 | See Source »

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