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...While the country's corporate sector is in better shape than it was in the 1990s after an epic property bubble burst, some things never change. Unlike in the 1990s, a lack of proactive government policy threatens to make the situation worse for ordinary Japanese. Contrast the Japanese government's inaction in the face of recession with the steps the U.S. has taken in the past nine months, among them a series of interest-rate cuts and tax rebates. No wonder the Japanese public exhibits so little confidence in the administration of Yasuo Fukuda, whose approval ratings bottomed...

Author: /time Magazine | Title: Stop the Rot | 8/28/2008 | See Source »

...Politicians also can no longer ignore the demographic trends that will shape the country's economic future for decades to come. An aging and increasingly retired population will drive consumption patterns and shrink the workforce. Some 20 years from now, how will the country remain productive? Who will take care of the boomers when they reach their 80s? As hard as it may be for Japan, a country proud of its traditions and its homogenous society, immigration must be increased to keep the economy vital and growing. By making such tough but farsighted policy changes today, Japan will give itself...

Author: /time Magazine | Title: Stop the Rot | 8/28/2008 | See Source »

From there, the ultra-rich fan out. The length of time that one has had a fortune will probably shape one's behavior. Apprentices (five years or less of experience with moola) are cautious and self-conscious; journeymen (six to 14 years) have gotten used to their millions and learned to buy expensive toys; masters (15 years plus) have learned to steer their portfolios and amass greater sums. In addition, there are at least five different wealth personalities, from wrestlers, who are conflicted about their exalted financial status, to directors, who feel they've earned every penny, thank...

Author: /time Magazine | Title: Business Books | 8/28/2008 | See Source »

...world's leading premium carmaker, closely followed by Mercedes, and Audi's overarching goal is to overtake them--which won't happen without the boost in U.S. sales it's striving for. And given the shape of the U.S. economy, that task isn't getting any easier. Worldwide, however, Audi had a strong 2007. It sold 964,151 cars, 6.5% more than in 2006, and its revenue jumped almost 8% to $52.9 billion. This year, Audi has sold 516,211 cars as of June 30--a half-year sales record and a 1.4% increase over midyear 2007 sales...

Author: /time Magazine | Title: Audi Gets in the Fast Lane | 8/28/2008 | See Source »

...trying to destroy Tehran's nuclear facilities through a series of air strikes, then the presence of the sophisticated Russian S-300 missile system in Iran would considerably raise the risk to Israeli pilots. Unfortunately for Israel, however, there may be little it can do to shape Moscow's Iran policy for the simple reason that Israel is not a major factor in Russia's strategic outlook. Moscow's actions on Iran are less likely to be determined by Israel supplying a few drones to Georgia than they are to be shaped, for example, by the deployment over extreme Russian...

Author: /time Magazine | Title: What Israel Lost in the Georgia War | 8/21/2008 | See Source »

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