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...similar sense of crisis has been growing across Asia over the past few months as the price of a barrel of oil has skyrocketed to almost $140, up more than 30% since January. The spike - coupled with galloping consumer price inflation in general and a slumping U.S. economy - is contributing to fears that an era of remarkable economic growth, particularly in developing countries such as India, may be drawing to a close. One ominous sign: stock markets throughout the region suffered sharp declines following a record one-day surge in oil prices of more than $10 a barrel on June...

Author: /time Magazine | Title: Asia Hits an Oil Slick | 6/12/2008 | See Source »

...Games in August. That could keep Chinese happily burning the midnight oil - and keep global oil prices high, since growing demand from China has contributed significantly to crude's price run-up in the past few years, according to economists. It's too early to say, but the recent spike in oil prices could be another nail in the coffin in which Asia's sizzling economic run of the past several years is finally laid to rest...

Author: /time Magazine | Title: Asia Hits an Oil Slick | 6/12/2008 | See Source »

Sixty-three years after U.S. forces vanquished the Japanese and planted their flag on Iwo Jima's Mount Suribachi, the remote outpost in the Volcano Islands is the focus of another pitched battle. This time, acclaimed film directors Clint Eastwood and Spike Lee are engaging in verbal warfare over the verisimilitude of Eastwood's two films about the epic clash, Flags of Our Fathers and Letters from Iwo Jima. Lee has claimed that by soft-pedaling African-American contributions to the battle, Eastwood is misrepresenting history...

Author: /time Magazine | Title: Were African-Americans at Iwo Jima? | 6/9/2008 | See Source »

...depending on the location, has since been named a best practice by the Department of Health and Human Services and the U.S. Army, which supports classes on its bases. Bishop's latest book, A Crash Course for New Dads, has a built-in audience. According to a 2007 Spike TV survey of more than 1,000 fathers, 71% of respondents felt they had to figure out on their own how to be a good dad. Tim Frye agrees. A political-science professor and Boot Camp veteran, he brought his 11-week-old son to the Weymouth class to help other...

Author: /time Magazine | Title: Daddy Boot Camp | 6/5/2008 | See Source »

...home from Croatia with numerous DVD copies for friends. Jazin says "the Borat factor" aids his efforts in coaxing foreign investors to plow billions into new development projects - "Thanks to Borat," he says, "the whole world knows about Kazakhstan." And Astana tour guide Gulmira Begimbetova reports seeing a notable spike in foreign vsitors since the movie's release. As Nazarbayeva puts it, Borat has been "good for business...

Author: /time Magazine | Title: The Cultural Teachings of Ambassador Borat | 6/3/2008 | See Source »

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