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...there are early signs that the massive influx of government spending is already accomplishing its main goal: easing China's economic slowdown, which has been headlined by double-digit declines in exports, thousands of factory closures and the layoff of about 20 million workers. Economic statistics for the first quarter of 2009 were surprisingly positive, leading some economists to conclude that the rate of contraction was slowing and that China might be on the road to recovery. Power-generation and transportation statistics, key indicators of the economy's direction, registered modest increases in March after months of decline. Banks lent...

Author: /time Magazine | Title: China's New Deal: Modernizing the Middle Kingdom | 6/1/2009 | See Source »

...beneficial effects of China's stimulus spending to continue for three to six months. While other Asian economies are expected to suffer sharp contractions in 2009, CLSA is predicting that China will hit its government-set GDP growth target of 8% this year, following a drop in the first quarter to 6.1%, the slowest annual growth rate since at least...

Author: /time Magazine | Title: China's New Deal: Modernizing the Middle Kingdom | 6/1/2009 | See Source »

...lavish renovations and tales of real estate riches. You may have decided to stretch your budget to buy your own overpriced house. And you may now, like the contestants on HGTV's newest reality show, wish you had a little cash to get out of the hole. Say, a quarter-million bucks...

Author: /time Magazine | Title: The Networks Look Ahead: Change, the Channel | 6/1/2009 | See Source »

...Washington A New Battle Over Gitmo Closing the U.S. detention facility at Guantánamo Bay, Cuba, was never going to be easy. But the latest challenge comes from an unexpected quarter. Democrats in Congress, fearing the political repercussions of moving suspected terrorists to U.S. soil, have pulled $80 million in funds for closing the prison--a political blow to President Obama, who on his second full day in office signed an Executive Order to shutter Gitmo. Congressional Democrats say the Administration, under fire for keeping Bush-era military tribunals for detainees, needs to develop a clearer plan for relocating prisoners...

Author: /time Magazine | Title: The World | 6/1/2009 | See Source »

...even as Bond scoffed at the ironically named Infinitink, which just became available this spring, he could relate to Americans' love-hate relationship with their body art. Cherished as symbols of independence and individuality, tattoos now adorn the flesh of a quarter of all adults under 50. Yet recent studies have also found that about a sixth of everyone who gets one winds up regretting it. Case in point: Bond sports two full sleeves' worth of intricate patterns, but admits there are a few designs on his arms that he'd like to erase altogether. "A lot of the stuff...

Author: /time Magazine | Title: Hate That Tattoo? Making Them Easier to Remove | 6/1/2009 | See Source »

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