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...stage of the global crisis, a sign that heavily indebted sovereign states might begin having trouble financing their deficits, or that investors will reassess their exposure to risky emerging markets in some kind of financial "contagion." BofA Merrill Lynch strategists postulated in a report that "one cannot rule out - as a tail risk - a case where this would escalate into a major sovereign-default problem, which would then resonate across global emerging markets...

Author: /time Magazine | Title: The Lesson of Dubai: The Crisis Is Not Over | 11/30/2009 | See Source »

...Salvadorans for the first time elected a President, Mauricio Funes, from the party of El Salvador's erstwhile leftist rebels. But life after elections remains as dysfunctional as the ubiquitous tangles of pirated electrical lines that hang above Tegucigalpa's streets. "The region has a greater understanding of the rule of law today," says Mark Rosenberg, president of Florida International University in Miami and an expert on Honduras and Central America. "But it's very incomplete." Even in Costa Rica, President Oscar Arias is elbowing for greater executive powers while weakening his country's famously strong environmental standards. The region...

Author: /time Magazine | Title: In Central America, Coups Still Trump Change | 11/30/2009 | See Source »

...which a lone can of Coca-Cola is a treasure, encounter no miraculously budding tree in the wasted landscape, no fish jumping from a dead ocean. The best they get is a rheumy-eyed old man (the great Robert Duvall) who considers death a luxury. Bands of cannibals rule the land, favoring children as meals. It's hopeless except for, as in McCarthy's book, the driving force of the narrative: a father's fierce devotion to his child. "The child is the warrant," Mortensen tells us in voice-over, the only reason for being...

Author: /time Magazine | Title: The Road on Film: Beautiful, Bleak | 11/30/2009 | See Source »

...ordinary times, the people of Zimbabwe would celebrate when the heavens opened up with rain that would soak their fields and ensure their harvest. But there have been no ordinary times in Zimbabwe for years under the authoritarian rule of Robert Mugabe. For residents of Chitungwiza, a bedroom suburb 30 miles southeast of the capital Harare, the rains have renewed fears of cholera. This is where last year's outbreak of the disease started. Eventually, it would claim close to 5,000 lives in the country of 12 million. Borne on infested, waste-filled water, the intestinal ailment may ride...

Author: /time Magazine | Title: Zimbabwe: Will Cholera Return with the Rains? | 11/30/2009 | See Source »

...supporters. "They need money to stay in power," he says. "They're ready to sign anything." For its part, the opposition is refusing to take part in talks with the junta aimed at creating a national unity government, saying that doing so would only legitimize Camara's rule. As Bah says: "There's no reason to be optimistic...

Author: /time Magazine | Title: In Guinea, Hopelessness After the Massacre | 11/28/2009 | See Source »

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