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...added nearly 11 million new jobs a year since 2004 (in contrast, the U.S. added about 1 million jobs last year), and in a culture in which the only thing revered more than education is making money, the former is supposed to lead directly to the latter. Just six months ago, to be young, educated and Chinese was to be in the global economy's sweet spot. But even though China is celebrating its international coming-out party this year by hosting the Olympics, for Huang and many of her classmates, any "I'm going to inherit the earth" optimism...

Author: /time Magazine | Title: Not-So-Great Expectations | 8/14/2008 | See Source »

...graduates are facing China's surprisingly grim economic realities - some new, some chronic. Generating enough jobs for the masses of newly minted capitalists who emerge from China's university system has for years been a challenge. Last year, about one-third of college grads went jobless for at least six months after graduation, according to government estimates. This year's crop of 5.6 million grads - 740,000 more than last year - is the largest ever, and the tsunami of able bodies is washing into the market just as China's economy is faltering...

Author: /time Magazine | Title: Not-So-Great Expectations | 8/14/2008 | See Source »

...less than three months that ma ying-jeou has been Taiwan's President, relations between Taipei and Beijing have seen the most rapid advancement in the six-decade standoff between the two governments. Ma has launched direct weekend charter flights between China and Taiwan, opened the island to mainland tourists, eased restrictions on Taiwan investment on the mainland and approved measures that will allow mainland investors to buy Taiwan stocks. But he still faces formidable challenges at home and abroad. Ahead of his first international diplomatic trip, to Paraguay and the Dominican Republic, Ma, 58, spoke with TIME's Zoher...

Author: /time Magazine | Title: The World According To Ma | 8/14/2008 | See Source »

...mark hung over the mats at the National Indoor Stadium. Last month, when China finally named its Olympic squad, legendary gymnastics coach Bela Karolyi complained that some of China's gymnasts were "obviously kids... and you're telling the world they are 16? What arrogance!" Were three of the six Chinese women on the stand actually too young to be competing...

Author: /time Magazine | Title: The Chinese Gymnasts: Age Questions Remain | 8/13/2008 | See Source »

...Georgians today," U.S. presidential candidate John McCain said Tuesday. But it was eastern European leaders who showed up in force in Georgia on a sultry evening to reassure the huge crowd of Georgians. No fewer than six heads of state flew into Tbilisi to pay their respects and show their solidarity with this small nation of 4.5 million people. They included France's Nicolas Sarkozy and the Presidents of five other regional neighbors, including Poland and Ukraine. Sarkozy stayed behind closed doors, trying to hammer out a ceasefire agreement, but the others unabashedly threw in their hat with the Georgian...

Author: /time Magazine | Title: On Scene: A Cry for Unity in Georgia | 8/13/2008 | See Source »

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