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...construction has spread. Estonia's stock index is down 60% in the past year. Tourist numbers have fallen. A third of restaurants in Tallinn's old city center are expected to close in the next few months. It doesn't help that a diplomatic spat between Estonia and Russia, which erupted last year following Estonia's decision to relocate a Russian war memorial, has resulted in a 30% drop in exports through Estonia's ports. Combine all that bad news and it's little wonder that Estonia's unemployment rate, just 4.7% in 2007, is predicted to hit 9% next...

Author: /time Magazine | Title: The Baltic Mourning After | 11/6/2008 | See Source »

...newly-elected president that Moscow still matters. But Medvedev's threats are not quite as tough as they might sound. The Kozelsk Division consists of 46 missiles built in 1979. The weapons have now been in service three times longer than planned and the harsh truth is that Russia is struggling to build the next generation long-range missiles...

Author: /time Magazine | Title: Moscow's Challenge to Obama | 11/6/2008 | See Source »

...maiden address to the Russian Parliament, President Dmitri Medvedev blamed the United States for Moscow's war with Georgia and for the world financial crisis. Washington, Medvedev said, was threatening Russia's security with the creation of a missile defense system and new NATO military bases around Russia's western and southern flanks. "We have gotten the clear impression that they are testing our strength," Medvedev said in his speech, which was made on the day U.S. voters elected Barack Obama president, and which at times recalled Soviet era rhetoric. (See pictures of the world reacting to Obama...

Author: /time Magazine | Title: Moscow's Challenge to Obama | 11/6/2008 | See Source »

Just past noon, Anna Chernova, a 68-year-old retiree, pushes her black metal shopping cart into an Aldi store on Chicago's North Side. After arriving from Russia 16 years ago, Chernova regularly shopped at conventional supermarkets like Dominick's and Jewel-Osco, but no more. "They're too expensive," Chernova says, lengthy shopping list in hand. Now she visits Aldi once a week, drawn by the no-frills chain's $2.69 gallon jugs of milk (compared with $3.99 for a gallon of Dean whole milk at Jewel-Osco) and 33¢ boxes of salt (compared with 79?...

Author: /time Magazine | Title: The Ultra-Lean Grocer | 11/5/2008 | See Source »

...Alaska. It's just right over the border.' SARAH PALIN, explaining to cbs anchor Katie Couric why the state's proximity to Russia boosted her foreign policy credentials as John McCain's running mate...

Author: /time Magazine | Title: Verbatim | 11/5/2008 | See Source »

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