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...right? Wrong. The discovery effectively hobbled Dutch industry, since any surge in revenue from natural resources - or from foreign aid, for that matter - tends to drive up exchange rates, making exports less internationally competitive. But thriving export industries, Collier argues, are precisely the reason for Asia's dramatic economic rise. They are also what Africa will need to develop in order to follow the same trajectory. Collier's idea seems to be sinking in: last month, the large international aid organization CARE announced that it would no longer accept subsidized food aid from the U.S. because it was depressing local...

Author: /time Magazine | Title: Now for the Bad News | 9/13/2007 | See Source »

...time, given the lofty valuations of stocks and corporate bonds, have now begun to take the opportunity to add selectively to their portfolios. It is likely that market turbulence will continue to test the discernment and fortitude of investors. Whether and how quickly the large pools of Asian capital rise to the challenges and opportunities presented by the new environment will have an important influence on global financial markets in the weeks and months ahead...

Author: /time Magazine | Title: Asia Rising | 9/13/2007 | See Source »

...thousands of leads and theories, some quite elaborate, including the much discussed idea that an international ring of pedophiles stakes out children for days and then extracts them with military precision. Another possibility explored was that a desperate childless couple paid a professional kidnapper to find a child. The rise of Hollywood theories--a cabal of James Bond pedophiles?--stemmed from the lack of physical evidence...

Author: /time Magazine | Title: Who Killed Madeline McCann? | 9/13/2007 | See Source »

...months ahead, violence in Anbar Province will likely rise again as Sattar's successor faces further death threats while commanding less of a following. And the biggest U.S. success to date in Iraq will likely unravel slowly...

Author: /time Magazine | Title: A Crippling Blow in Anbar | 9/13/2007 | See Source »

...they respond. It's one thing for a theater full of black-tied swells to applaud George Clooney or Brad Pitt. It's quite another for 1,200 Madness minions to sing Happy Birthday to Italian horror auteur Dario Argento, as they did this year. Or, in 2005, to rise and cheer for Hong Kong martial-arts star Sammo Hung. When he strode onstage the people at the Ryerson practically levitated. Ambitiously titled, Midnight Madness is now an annual ritual that always lives up to its name...

Author: /time Magazine | Title: The Freaks Come Out at Night | 9/12/2007 | See Source »

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