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...that Austrian officials be allowed into the country to investigate alleged Serbian sponsorship of the terrorists. The government in Belgrade immediately dismissed the ultimatum as "impossible." Germany took the Austrian side; the Russians lined up with the Serbs. By Aug. 4, a little Balkan difficulty had become a full-scale European...
Could such a "great drain" happen again, sucking liquidity out of the international financial system? Many experts would dismiss the idea as mere doom mongering. A full-scale war, they say, is one of those "10-sigma" (10 standard deviation) events that are so rare they lie outside the domain of risk management. Like an asteroid hitting the earth or a global influenza pandemic, a really big war belongs in the realm of uncertainty. You just can't price...
...Communications blackouts aren't uncommon-in 2005, for example, Pakistan was cut off from the Internet for 12 days after a fishing boat accidentally snagged its main international connection; sharks have even been blamed for biting into lightly armored lines. But outages on the scale of this Asia-wide meltdown aren't supposed to happen. And with the march of globalization, companies are more dependent than ever on global networks, which makes the threat of communications paralysis particularly unsettling. So what can be done to prevent future blackouts...
TIME's editors must have been under enormous pressure not to name Venezuelan President Hugo Chávez Person of the Year, as your readers did in the online poll. What percentage of people in the world have ever heard of YouTube? What is the scale of its effect on people outside the U.S.? The proper headline for your cover should have been AMERICAN PERSON OF THE YEAR. ZAC ZHANG Shenzhen, China...
...accompanying political and economic progress would be a waste. They believe some essential steps need to be taken first: the U.S. should openly declare it has no long-term intention of staying in Iraq, the Iraqi government should soon announce provincial elections, and the U.S. should back a large-scale jobs program. They also advocate putting more pressure on the Iraqi government for a political reconciliation schedule, as well as a serious discussion of sharing oil revenues among the different ethnic regions...