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...government estimated storm-related losses at about $3 billion. Economists say this figure is bound to rise. "I'd guess in the end [the crisis] will shave a couple tenths of a percentage point off China's GDP growth this year," says Ben Simpfendorfer, a China economist with the Royal Bank of Scotland in Hong Kong. That's not much considering that the country's GDP growth rate was 11.4% last year. But the situation may have been made worse because factories were forced to close and shipments disrupted just as the country's industrial base typically cranks up production...

Author: /time Magazine | Title: China On Ice | 1/31/2008 | See Source »

...will almost certainly cause another spike. Frigid temperatures across 14 provinces in China are destroying vegetable crops and will "push up food prices further in January and February," says Jun Ma, chief China economist at Deutsche Bank in Hong Kong. The consequences could be serious, says Simpfendorfer of the Royal Bank of Scotland. "Even if [inflation] creeps up to 7.5%, that grabs the headlines and will affect expectations...

Author: /time Magazine | Title: China On Ice | 1/31/2008 | See Source »

Comrade Sandhya's voice trembles as she speaks of her father. "He was a major in the Royal Nepalese Army," she begins, cupping her chin with one hand while rearranging a neat schoolgirl plait with the other. "When he found out I had gone underground, he said I was no longer his daughter - only his enemy. The next time he wanted to meet me was on the battlefield...

Author: /time Magazine | Title: Rebels with a Cause | 1/31/2008 | See Source »

...breathtaking view from Karanganyar's Astana Giribangun mausoleum, the final resting place of former President Suharto, was fit for a king - and the reception of Indonesia's longest-serving leader no less royal. Tens of thousands of Javanese came out to pay their last respects today in this small town in central Java, lining the steep hills overlooking the spectacular rice fields that feed this nation of more than 230 million people. Beneath hundreds of banners that read HAVE A SAFE TRIP FROM THE PEOPLE OF SOLO, old ladies walked for miles under the sweltering midday sun just to catch...

Author: /time Magazine | Title: Indonesia Bids Farewell to Suharto | 1/29/2008 | See Source »

...bulldozed. My pub, the Man in the Moon is gone; it's now a Chinese cocktail bar. The Phene Arms which is a famous George Best local, is gone. [Best was a legendary soccer star and party animal.] The Surprise, which is a Chelsea pensioner's pub in Royal Hospital Road, just closed...

Author: /time Magazine | Title: Why the Pub Is Empty | 1/28/2008 | See Source »

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