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...democracy effective in India? there is always the inevitable comparison with China, which has progressed spectacularly in spite of a vast, impoverished population and an absence of democracy. China's advantage is its far more homogeneous society and its single-party rule, which can easily suppress any social dissent and move rapidly on any project. Also, China learned the lessons of Mao-era excesses and made necessary course corrections. Similarly India has understood the errors of its socialist beginnings, which suppressed private enterprise in all fields at the cost of developing human resources and infrastructure. But India, too, has made...

Author: /time Magazine | Title: Inbox | 6/29/2009 | See Source »

...test again for the system is, Are banks able to raise equity? Are investors confident enough in their ability to judge the strength of the banks' balance sheets that they're willing to put equity into a bank? We've seen substantial progress in that area. Now we're still going to put in place these facilities for legacy assets because we think they are good insurance against the risk of a future downturn, and we think they provide some broad help to this process of thawing receding credit markets. If the world gets progressively better, you may see less...

Author: /time Magazine | Title: Geithner Q&A | 6/29/2009 | See Source »

...other areas, progress has been slow. In 2005, Masondo announced that by 2009 he planned to rehouse all 215,000 families living in shacks. That deadline has passed, but the shantytowns are not gone. In May 2008 they erupted in riots that killed 62 people and displaced...

Author: /time Magazine | Title: Joburg Gets It Together | 6/29/2009 | See Source »

...While those dwindling numbers may spell the death of India's traditional weaving skills, women in Delhi embrace the change as a sign of progress. "There is a general perception that you would consider a woman in Western formal wear more empowered than her more traditional counterparts," says Kriti Budhiraja, 20, a political science student at Delhi University. And to be fair, the sari industry is not exactly putting up a fight. It's exiting the stage slowly and almost imperceptibly, with the exception perhaps of Indian soap operas, in which every woman is dressed in an impeccably ironed...

Author: /time Magazine | Title: The Dying Art of the Sari | 6/25/2009 | See Source »

...result, it's been a busy weekend for U.S. intelligence. Spy planes and satellites are monitoring launch preparations at several North Korean launch sites, while other U.S. surveillance platforms are following the progress of the Kang Nam, a North Korean vessel suspected of ferrying banned arms, missiles or nuclear components. The destroyer U.S.S. John S. McCain - named for the father and grandfather of the Arizona Senator, both admirals - is trailing the 2,000-ton vessel. According to South Korean television, the ship is headed to Burma, a nation run by a military dictatorship and a suspected longtime buyer of North...

Author: /time Magazine | Title: The North Korean Showdown Ratchets Up | 6/22/2009 | See Source »

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