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...economy, is now in the midst of a disorienting shift in economic policy, away from the let-it-rip form of capitalism that has guided it for almost 30 years and toward more overt government control and regulation of huge swaths of the economy. No one yet can safely say whether this is wise, but in the U.S. it is certainly the stuff of increasingly fierce debate. No such doubts are evident in China, where the government reacted to the crisis with alacrity and the economy is now responding in kind...

Author: /time Magazine | Title: Can China Save the World? | 8/10/2009 | See Source »

...currency. More recently, Beijing has signaled an intention to slowly establish its own currency, the renminbi, as a dollar alternative in international trade by providing subsidies for Chinese companies to price their exports in renminbi. One economist, Qu Hongbin of HSBC in Hong Kong, goes so far as to say that 40% to 50% of China's overall trade flows could be settled in renminbi by 2012 (though few other economists believe this will happen anywhere near that fast). This willingness to make its positions known publicly and push other governments to see things China's way "is very different...

Author: /time Magazine | Title: Can China Save the World? | 8/10/2009 | See Source »

...civilization as well as a nation state, a long-standing influence on the nations and cultures that border it, and a diaspora that impacts not just its region but the world. China's habits of governance, Jacques argues, are not those of the Western world; its values (let us say harmony and stability, rather than liberty and justice) are not those of the West. The roles of both the state and the extended family as social mechanisms in China differ from those in modern Western societies. All of this, Jacques argues, means that the 21st century will...

Author: /time Magazine | Title: Into the Unknown | 8/10/2009 | See Source »

...that Muslim men are plotting to defile underage British girls, peppering his invective with concocted statistics such as this one: "The average racist murderer in this country is 40 times more likely to be a member of an ethnic minority than the other way round." It's safe to say that a resemblance to India's icon of peaceable nationalism isn't immediately obvious. The link turns out to be distributism, a philosophy opposed to big government and big corporations alike and a formative influence for both men, according to Griffin. "[Distributism] took Gandhi in a very similar direction - mutatis...

Author: /time Magazine | Title: The March to the Far Right | 8/10/2009 | See Source »

That's undoubtedly true. Wilders says he sleeps in a different location every night. But the image of the brave outsider, prepared to tell the truth and hang the consequences, has also proved a potent electoral tool. "[Wilders] says what others don't dare to say," says Gil Timmermans, a 39-year-old car mechanic who voted for the PVV. "I'm not a racist, but if the Muslims get their way, it could be the end of our Dutch way of life." (Read: "Gunned Down...

Author: /time Magazine | Title: The March to the Far Right | 8/10/2009 | See Source »

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