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...Perhaps the most optimistic outcome would see reform-minded young members of both parties join forces to form a new coalition ready to tackle Japan's problems, but the revolution seems unlikely. Less than two years after Koizumi electrified the nation by calling a snap election to defend his reform plans, voters seem resigned to the return of Japanese politics as usual. Back at the Minato welfare office, 71-year-old Asako Hamada sees little reason for hope. "I don't know anything about politics, but I know things are not well at the present moment," she says. "That neither...

Author: /time Magazine | Title: Fade to black? | 7/12/2007 | See Source »

...Chinese government views this blue-chip IPO parade as essential for economic modernization. "The government wants a healthy equity culture to gradually develop in China," says Jing Ulrich, managing director of China equities at JPMorgan in Hong Kong, "because allocating capital more efficiently is central to the ongoing reform process." The government has outsized influence over large Chinese corporations for a simple reason: most being brought to market are state owned. Encouraging big, well-known companies to make their shares available to domestic investors-who have very limited access to markets abroad-makes sense. China's equity markets have...

Author: /time Magazine | Title: Echo Boom | 7/12/2007 | See Source »

...labels; now an alliance of religious activists that runs from the crunchy left across to the National Association of Evangelicals has called for action to address global warming, citing the biblical imperative of caring for creation. Mainline, evangelical and Roman Catholic organizations have united to push for immigration reform. The possibility that there is common ground to be colonized by those willing to look for it offers a tantalizing prospect of alliances to come, but only if Democrats can overcome concerns within their party. "One-third gets it," says a Democratic values pioneer, talking about the rank and file...

Author: /time Magazine | Title: How the Democrats Got Religion | 7/12/2007 | See Source »

...Czechs and their 48-star flags have become Clinton staples. She trotted them out in a speech about government reform in New Hampshire on April 13 (albeit with a different "down ramp": not about restoring America's role in the world, but about not "giv[ing] up on America's ideals") and has mentioned them at least five times since then. The anecdote also made a brief appearance in Clinton's autobiography, Living History...

Author: /time Magazine | Title: What's the Story With Hillary's Story | 7/12/2007 | See Source »

...Bering Sea separating Alaska from Russian Chukotka. The territory was ceded to the U.S. in 1990 under the U.S.-Soviet Maritime Boundary Agreement signed by Secretary of State James Baker and Soviet Foreign Minister Eduard Shevardnadze. While the deal may have helped ease Cold War tensions, anti-reform Soviet hard-liners always opposed giving up a piece of territory rich in sea life and hydrocarbon deposits, and they and their nationalist successors prevented the agreement's ratification. Today, the Agreement still operates on a provisional basis, pending its ratification by the Russian parliament...

Author: /time Magazine | Title: Russia Claims the North Pole | 7/12/2007 | See Source »

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