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...economy and financial system. In the past two weeks, China signed multibillion-dollar currency-swap agreements with Indonesia and Argentina that effectively allow Beijing's two trading partners to bypass the dollar as a medium of exchange. The deals followed similar swaps China has hammered out over the past six months with Malaysia, Hong Kong and South Korea. The combined value of the various swaps - which enable the central banks of China's trading partners to sell yuan to local importers to buy Chinese goods - is nearly $100 billion. (See pictures of the global financial crisis...

Author: /time Magazine | Title: China Takes a Small Step Away from the Dollar | 4/6/2009 | See Source »

...second night, more vibrant and complex than the evening before. The second half, fittingly called “Perestroika,” a Russian term for restructuring, initiates and affects a profound upheaval in the emotional and spiritual lives of its characters. As the vague connections between all six main characters begin to develop into close relationships, the masks slip from their faces, revealing what truly lies at their core. The most gentle characters, like Harper and Belize, turn out to have the greatest strength of mind and character, while characters that are accustomed to controlling the people closest...

Author: By Catherine A Morris, CONTRIBUTING WRITER | Title: ‘Perestroika’ Confronts Prejudice and Overturns an Established Social Order | 4/5/2009 | See Source »

...Less. The Marriott Rewards guest loyalty program, has lowered the points required for a three-night stay at participating Marriott hotels anywhere in the world - from Phuket, Thailand, to Tucson. To stay three nights, you'll need to redeem only enough points for two. So, if you stay six nights, for example, you'll be charged for four. The Three For Two promotion is good through Sept...

Author: /time Magazine | Title: Hotel Freebies: Yoga Classes and Spa Treatments | 4/5/2009 | See Source »

...days, the U.S. and North Korea's neighbors in east Asia kept insisting that Pyongyang stand down from plans to test an intercontinental rocket. But on Sunday morning, North Korea launched it anyway - as it pledged to - saying the rocket bore nothing more than a communications satellite. With six U.S. cruisers equipped with Aegis anti-missile systems deployed in the region - to watch and gather intelligence, not fire on the rocket, Pentagon officials had said late last week - North Korea sent the Taepodong II rocket over Japan and into the Pacific Ocean. That, by itself, meant the launch for Pyongyang...

Author: /time Magazine | Title: Despite Warnings, North Korea Launches Rocket | 4/5/2009 | See Source »

...best Obama can hope for now is to get North Korea to return to the six-party talks (hosted by Beijing and including South Korea, Japan and Russia.) Washington has tried to signal Pyongyang in advance of the launch that it was still interested in talking, "because," says one Western diplomat, "the big picture remains the same, missile or no missile: getting them to abandon their nuclear weapons program...

Author: /time Magazine | Title: Despite Warnings, North Korea Launches Rocket | 4/5/2009 | See Source »

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