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...global meltdown; its currency, the won, has fallen to levels not seen since the days of the last crisis. Even though South Korea's economy, relative to others around the world, is expected to show some vibrancy - economists expect the country to avoid a recession, while the banking sector remains generally healthy - the renewed onset of economic turmoil has undermined the confidence of South Koreans in their own future. "The economy's O.K., but no one thinks so," says Jeffrey Jones, a Seoul-based attorney and former chairman of the local chapter of the American Chamber of Commerce. "They...

Author: /time Magazine | Title: A Depressed Mood | 11/13/2008 | See Source »

Paulson didn't seem to think that that was something he needed to get involved with. Same with fiscal stimulus legislation. Paulson shepherded the last stimulus bill through Congress in January. Not this one. "My focus is on the financial sector, on getting credit going, getting lending flowing," he said. "I can't imagine anything that would have a bigger stimulative impact." In other words, he really doesn't want to take on anything more at this point. Can you blame...

Author: /time Magazine | Title: Paulson: Near The Finish Line, And Looking Like It | 11/12/2008 | See Source »

...some ways, Ireland has been a victim of its own success. Rising incomes and government policy failures pumped up a housing bubble that is now deflating fast, hurting Ireland's outsized construction sector. Factor in soaring unemployment, weaker consumer spending and the gummed-up credit markets, and Ireland is facing "the most challenging fiscal and economic position in a generation," Finance Minister Brian Lenihan told parliament on Oct. 14. "We must all pull together if we are to return to more prosperous times...

Author: /time Magazine | Title: Ireland's Economy: Celtic Crunch Time | 11/12/2008 | See Source »

...wants to be president, he laughed and stretched out his arms uncomfortably against the back of the white leather banquette. We were in a trendy little Georgetown restaurant, all sharp lines and arctic surfaces. Caleb had already told me that his postgraduate plan is to work in the private sector. He will always be involved in politics, he said, but maybe just as a donor or volunteer. Many people on campus seem to think you aspire to the presidency, I told him. “That’s hilarious,” he said. “That?...

Author: By Lois E. Beckett | Title: Kids Who Would Be King | 11/12/2008 | See Source »

...executions are a sign that the government is letting law enforcers do their job," says Agus Wijoyo, a researcher on security sector reform at the Centre of Strategic and International Studies. "For whatever is in the minds of those wanting to violate the law, this should act as a deterrent...

Author: /time Magazine | Title: Indonesia Tense After Terrorism Executions | 11/9/2008 | See Source »

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