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Contrast that with Ireland. Since losing its edge in Europe - rising labor costs helped the country's share of euro-zone exports fall one-fifth between 2001 and 2008 - the Irish haven't shied from cutting their cloth in recent months. In his budget announced Dec. 9, for instance, Lenihan...

Author: /time Magazine | Title: Why Greece Could Be the Next Dubai | 12/9/2009 | See Source »

Mixed Blessings When China began its global investment push in the early part of this century, the flood of new money was welcomed, particularly in those parts of Asia, Africa and Latin America that felt abandoned by the West. China's promise not to politicize aid and investment by attaching...

Author: /time Magazine | Title: The World of China Inc. | 12/7/2009 | See Source »

Still, for all the controversy surrounding the influx of Chinese money in Africa, Latin America and Asia, the truth is that the vast majority of Chinese working abroad aren't going to go home rich. Driving up to the Ramu mine site, I stopped the car at an incongruous sight...

Author: /time Magazine | Title: The World of China Inc. | 12/7/2009 | See Source »

Despite Bush's blunders in Iraq and elsewhere, many Indians welcomed his embrace, which strengthened ties to an unprecedented degree after decades of Cold War estrangement. Prime Minister Singh faced opposition at home from politicians skeptical of closer relations with the U.S. - his government was almost deposed by parties of...

Author: /time Magazine | Title: Ties That Bind | 12/7/2009 | See Source »

Today, with the peace process on the brink of collapse, East Jerusalem is becoming the central political battleground pitting Israel against both the Palestinians and Western governments hoping to salvage a two-state solution. That much is visible at the City of David. Although billboards in the area portray white...

Author: /time Magazine | Title: Jerusalem: A Growing Powder Keg in Mideast | 12/7/2009 | See Source »

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