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...optimists, the June data showed just how determined the Chinese government is to implement effective monetary countermeasures to fight the downturn. As Peking University finance professor Michael Pettis says, China is "throwing everything including the kitchen sink'' at the problem. There is no question that as a result of the flood of financing, a lot of Chinese have jobs they otherwise wouldn't. But, as Grant's Interest Rate Observer, an influential Wall Street newsletter, points out in its latest issue, "Massive injections of money and credit ... are always bullish before they are bearish." The newsletter draws worrying parallels between...

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

...gold from the epigraph, a quote from her coach that's another deliciously ironic swipe at the double-edged sword of accomplishment: "If this exceptional athlete wore all the Olympic gold medals she has won in her long career and jumped find a pool, she would sink." What we find out is how much Pip's triumphs cost and how they change her. The story may not lend itself to a neatly plotted ending, but with a novel as fun and imaginative as Swimming, you're quick to forgive such a minor failure. It deserves a medal for taking...

Author: /time Magazine | Title: Master Stroke | 8/10/2009 | See Source »

...Oxford college room of yore - despite the romantic connotations - was very likely to be a cold, damp and creaky affair, with moth-eaten armchairs and rudimentary amenities (picture narrow single beds and a sink and mirror in the corner). These days, though, many have been revamped to include ensuite bathrooms, complimentary toiletries, power showers and Internet access. All are spotlessly clean. (See 10 things to do in London...

Author: /time Magazine | Title: A Night at Oxford | 8/6/2009 | See Source »

...then there's the Amazon. Right now, the rain forest is a huge carbon sink, which compensates for the greenhouse gases we release by burning fossil fuels. But if the climate warms so much that the rain forest begins to die off - a distinct possibility - we'll lose that carbon sink, and then warming will again accelerate. Scientists, including the authors of the Science study, are still trying to nail down exactly where these tipping points might be - but it seems that the more we find out, the more the evidence points to an increasingly sensitive climate. And that...

Author: /time Magazine | Title: In a Warming World, Cloudy Days Are a Boon | 7/24/2009 | See Source »

...says Russia could regain its historic hold on the country if political forces and civil society fail to spell out a strong European agenda. It warns that Bulgaria, which depends on Russia for 92% of its gas supplies, is uniquely vulnerable to Moscow. (Read "How One Man Plans to Sink the European Union...

Author: /time Magazine | Title: Could the E.U. Lose Bulgaria to Russia? | 7/22/2009 | See Source »

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