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...crises of 1997 and 1998, China's success in keeping the yuan fixed at 8.3 yuan to the dollar was applauded in the West as a major contribution to averting financial chaos. Since 2005, China has been willing to allow the yuan to appreciate a bit (the current exchange rate is 6.8 yuan to the dollar). It just hasn't been willing to do this on any but its own extremely conservative terms...

Author: /time Magazine | Title: U.S.-China Trade: Prepare for Continued Imbalance | 11/17/2009 | See Source »

...year ago, the credit crisis caused the municipal-bond market to grind to a halt. Shell-shocked investors pulled back from even munis, which are normally considered a relatively safe bet. Bond yields soared. Local governments were forced to delay raising money. And auctions of short-term variable-rate muni securities failed. (Read "Five Painless Ways to Cut Expenses...

Author: /time Magazine | Title: A Stimulus Success: Build America Bonds Are Working | 11/17/2009 | See Source »

...rose to 54% from 46%. "Intra-Asian trade flows are the fastest growing in the world," says Lawrence Webb, global head of trade and supply chain at HSBC. This trend has accelerated since the financial crisis. HSBC predicts that trade among Asian countries will grow at an annual average rate of 12.2% until 2020. The region's trade with the U.S. is projected to grow 7.3% annually over the same period...

Author: /time Magazine | Title: APEC's Bonding Experience | 11/16/2009 | See Source »

...Philippines, Pacquiao is a demigod. The claim goes that when his fights are broadcast live, the crime rate plummets because everyone in the country is glued to a screen. His private life as well as the ins and outs and ups and downs of his training regimen are tabloid fodder; his much brooded political ambitions are a dilemma many Filipinos feel as existentially as Hamlet's soliloquy: To be or not to be ... a Congressman...

Author: /time Magazine | Title: The Meaning and Mythos of Manny Pacquiao | 11/16/2009 | See Source »

...even by the official numbers, only half of those are combat-ready. The reality of the recent U.S. and British operations in Helmand province, however, suggests that a lot fewer may be capable of being deployed to fight effectively alongside NATO forces, much less on their own. The desertion rate of troops trained in the ANA stands at 20% - and is reportedly even higher among forces deployed in combat. Afghan field officers are in short supply, and the top echelon of the officer corps is dominated by ethnic Tajiks who are often viewed with suspicion by Pashtuns, the country...

Author: /time Magazine | Title: Obama's Afghan Dilemma: Missing Security Forces | 11/16/2009 | See Source »

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