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...with galloping consumer price inflation in general and a slumping U.S. economy - is contributing to fears that an era of remarkable economic growth, particularly in developing countries such as India, may be drawing to a close. One ominous sign: stock markets throughout the region suffered sharp declines following a record one-day surge in oil prices of more than $10 a barrel on June 6; China's Shanghai stock market plunged 7.7% on June 10, its steepest drop in a year. While investors and economists are worried about a number of economic headwinds, rising oil prices, said Merrill Lynch...

Author: /time Magazine | Title: Asia Hits an Oil Slick | 6/12/2008 | See Source »

...race to gobble up markets and natural resources. Its trade with Africa and Latin America has increased sixfold since 2001. It is the world's top consumer of cement, grain, meat, coal, copper and steel. Back at home, China has transformed itself into a nation of superlatives, each record burnishing its reborn pride. The country boasts the world's biggest dam (the Three Gorges), the largest corps of engineers (350,000 new graduates every year) and the most urban areas with a population above 1 million (more than 100). The People's Republic is the most wired nation on earth...

Author: /time Magazine | Title: China's Sports School: Crazy for Gold | 6/12/2008 | See Source »

...contradiction, talking about how his campaign is going to be not associated with people like that," McCain told Fox News on Monday. "Clearly he is very much associated with that." The Republican opposition research machine went into overdrive, bombarding reporters with all the telling details of Johnson's record as a powerful man who profited from his own relationships. Conservative blogs and the editorial page of the Wall Street Journal lit up with glee...

Author: /time Magazine | Title: The Outrage Game Bites Obama | 6/11/2008 | See Source »

...Philippine government has pledged to improve its human-rights record. Yet most of these abduction cases linger in limbo, stymied by the military's recalcitrance or police ineptitude. A March report by the U.S. State Department noted that "judicial inaction on the vast majority of disappearances contributed to a climate of impunity and undermined public confidence in the justice system." During a highly publicized six-month inquiry by the Philippines Court of Appeals, witnesses and military personnel offered tantalizing glimpses into the shadowy circumstances surrounding the brazen daylight abduction of Jonas Burgos. Yet when the proceeding concluded last week, Edita...

Author: /time Magazine | Title: The Philippines' Disappearing Dissidents | 6/9/2008 | See Source »

...wrote that the country's military "is in a state of denial concerning the numerous extrajudicial executions in which its soldiers are implicated." For the first time last year, the U.S. made some of its military aid to the Philippines contingent on the country improving its human-rights record. The international disapprobation was a source of embarrassment to an Arroyo administration already staggered by allegations of vote-rigging and corruption. And the government has taken steps to prosecute the killings more aggressively, including participating in a national summit last July on extrajudicial executions and forced disappearances. At that summit...

Author: /time Magazine | Title: The Philippines' Disappearing Dissidents | 6/9/2008 | See Source »

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