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...this good or bad for Venezuela and the U.S.? The answer is yes. As oil nears a once unthinkable $100 a bbl., Chávez can afford to delay costly drilling and refining expansions like Paraguaná's and spend that money on socialist programs and other political pursuits. In a bravado performance at a Nov. 18 meeting of the Organization of Petroleum Exporting Countries (OPEC), Chávez and his new best friend, Iranian President Mahmoud Ahmadinejad, mocked the U.S. and blamed the weak dollar, not Venezuelan production capacity, for the high price of oil. "The fall of the dollar...

Author: /time Magazine | Title: Is Chavez Taking Too Many Oil Risks? | 11/29/2007 | See Source »

...Troudi has a job that most post-Cold War Marxists can only dream about. As the director of the Miranda Center in Caracas, a policy research think tank set up two years ago by the government of left-wing Venezuelan President Hugo Chávez, El Troudi formulates socialist strategies that actually get put into practice. Some of them, like an epic campaign to create "socially oriented" industrial cooperative factories, will be put to a national referendum this Sunday, when Venezuelans vote on a raft of constitutional reforms that Chavez says will create a model of "21st-century socialism." From...

Author: /time Magazine | Title: Challenging Chavez in the Streets | 11/29/2007 | See Source »

...like as it could be without becoming the Liberal Party. The only revolution he was about to start was an educational one, and it didn't mean overthrowing the teacher class. It meant upgrading trades training and providing senior students with computers and Internet access. "I am not a socialist. I have never been a socialist and I never will be a socialist," said Rudd, who had previously described himself as "an old-fashioned Christian socialist." Is Labor still a party of the left? a TV interviewer asked Rudd. "The economy is basic to everything," he replied. Is Labor...

Author: /time Magazine | Title: Australia's New Order | 11/25/2007 | See Source »

...direction As a Diplomat, Rudd spent eight years in Beijing; he makes much of his ability to speak Mandarin. Perhaps coincidentally, his approach to Labor doctrine resembled an Australian version of Deng Xiaoping Theory. Whether an ideology is "surnamed capitalist or surnamed socialist" is immaterial, the late Chinese leader declared. Socialism is "whatever increases the comprehensive strength of the nation...

Author: /time Magazine | Title: Australia's New Order | 11/25/2007 | See Source »

...different. Cartoonists drew Rudd as a mini-Howard. A satirical video on YouTube cast the Chinese-speaking Labor leader as Chairman Mao, with subtitles reading: "Rudd unnerve decrepit Howard with clever strategy of 'similar difference.'" Rather than attacking Howard's strengths, Rudd appropriated them. "I am not a socialist," Rudd insisted. "I am an economic conservative." On issue after issue, from federal intervention in dysfunctional Aboriginal communities, to national security, to the expansion of coal and uranium mining, Rudd adopted the government's line...

Author: /time Magazine | Title: A New Face for Australia | 11/24/2007 | See Source »

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